he collapse of several local financial institutions. In 1992 the newly elected Kennett government began a campaign to revive the economy with an aggressive development campaign of public works coupled with the promotion of the city as a tourist destination with a focus on major events and sports tourism. During this period the Australian Grand Prix moved to Melbourne from Adelaide. Major projects included the construction of a new facility for the Melbourne Museum, Federation Square, the Melbourne Exhibition and Convention Centre, Crown Casino and the CityLink tollway. Other strategies included the privatisation of some of Melbourne's services, including power and public transport, and a reduction in funding to public services such as health, education and public transport infrastructure.
Contemporary Melbourne
Since the mid-1990s, Melbourne has maintained significant population and employment growth. There has been substantial international investment in the city's industries and property market. Major inner-city urban renewal has occurred in areas such as Southbank, Port Melbourne, Melbourne Docklands and more recently, South Wharf. According to the Australian Bureau of Statistics, Melbourne sustained the highest population increase and economic growth rate of any Australian capital city in the three years ended June 2004. These factors have led to population growth and further suburban expansion through the 2000s.
From 2006, the growth of the city extended into "green wedges" and beyond the city's urban growth boundary. Predictions of the city's population reaching 5 million people pushed the state government to review the growth boundary in 2008 as part of its Melbourne @ Five Million strategy. In 2009, Melbourne was less affected by the Late-2000s financial crisis in comparison to other Australian cities. At this time, more new jobs were created in Melbourne than any other Australian capital�almost as many as the next two fastest
