Wealthy executives and tourists visiting Sydney will be able to flit directly to the city's famous harbour after the government announced Tuesday it will allow a floating heliport.

The heliport will be the first in the city for more than 20 years and will bring passengers from the airport to the famous white sails of the Opera House and the Sydney Harbour Bridge within minutes.

"The Sydney Harbour floating heliport is a new signature experience that will help entice visitors to Sydney and make it easy for them to enjoy a birds' eye view of the harbour," New South Wales state Deputy Premier Andrew Stoner said.

Industry leaders have long called for a heliport based in the city, which last had one in the late 1980s operating from the Darling Harbour tourist precinct, along the lines of the services available in New York.

The large barge, which will be anchored a short boat ride from Circular Quay, will have two helipads and be in place from early December.

"Tourist flights are definitely a portion of it," said James Guest, director of Newcastle Helicopters which will run the service, adding that businesspeople would also be a major market.

The tourism and business sectors welcomed the development.

"It's a commonsense outcome that puts Sydney in a similar position to other renowned global cities" said Patricia Forsythe, executive director of the Sydney Business Chamber.