Throughout many regions of the world, high-speed rail (HSR) provides an outstanding transport service for both the business and leisure travel markets. Given this high level of international success, HSR is likely to make a similar transformational contribution to Australia's long-term transport needs. HSR would address the increasing congestion at Australian airports. It would also provide an effective means of addressing the negative environmental impacts associated with over-reliance on existing transport modes. Factors associated with the development of HSR in Australia are varied and complex. This report, commissioned by the Cooperative Research Centre (CRC) for Rail Innovation, represents the first step in revisiting the potential for HSR in Australia. In brief, the report synthesises the current knowledge of HSR with reference to the Australian context and provides directions for further investigation. The broad parameters of the report are as follows: 1. It focuses primarily on recent information drawn from regions with HSR experience; 2. HSR is assumed to be capable of at least 250 km/h; 3. Both existing and planned HSR systems are considered.