The largest city is Sydney .There are in the state of New South Wales. With 4.7 million inhabitants. Sydney has an advanced market economy with strengths in finance, manufacturing and tourism. Australia is a developed country and one of the wealthiest in the world, with the world's 12th-largest economy. In 2014 Australia had the world's fifth-highest per capita income. Australia ranks highly in many international comparisons of national performance, such as quality of life, health, education, economic freedom.