Steady and Standard Economy
Australia has a strong economy. It is now in its 27th year of steady annual economic growth after 1990-91. It’s the only country to develop the economy to have no annual recessions from 1992-2016. Australia’s economic resilience, a record of such steady growth, and adaptability provide a low-risk, and safe environment for a business to grow and develop. Here are some highlights:
- Australia is ranked as 13th largest in the World for its economy.
- There is a forecast to release average annual GDP growth of 2.9% over the next 4 years 2018-2021.
- Australia got characterized by the high production levels. 15 out of 20 industries rated Australia above the global average.
Skilled Labour Force Talent
Australia’s Labour Force Talent is the most multicultural, educated, and multilingual in the world. Australia has highly skilled workers because of its excellent and standard education system, availability of specialized training services, and the quality scientific research institutions.
Australia has a diverse workforce where 30% of skilled workers are born overseas. It has experienced a sustained period of growth in labour productivity exceeding real wages growth.
Highly successful Industries
Australia provides high-quality products and services to the world. Asia’s agricultural commodities, industrialization, and premium food are meeting demand for green, safe, and clean products. Its service-based standard and steady economy provide healthcare, education, wealth management, tourism, and other professional services to Asia. It’s ranked as 11th largest international tourism market and is a global top 10 producer of agricultural commodities. Not only this, it is the world’s 3rd most popular destination for immigrant students.
Here are the 5 Globally Successful Australian Industries
Best Trade & Investment Base
Australia is in the best place for the international companies who are in business with Asia. It facilitates the smooth flow of investments, goods, and services with major economies across Asia, North America, and Europe. 10 out of 12 Australia’s top export markets in 2015-2016 were in the Asian region and rated above the investment grade. Its location and position offer double-edge. One through enhanced trade, geographical, and cultural links with the fast-growing Indo-Pacific region, and 2nd one through the link with 24 hours connectivity among the major time zones of the world in Asia, America, and Europe.
The government of Australia is among the best in the world due to its stable parliamentary democracy. Last year it was ranked as 12th in the Worldwide Governance Indicators of the World Bank.
Best Infrastructure for Businesses
Australia is designed and suited best for all requirements of a business. Efficient logistic chains, strategically located ports, and well-planned rail and road transport includes in its infrastructure. We hope you liked the information provided above.
All the above reasons attract more overseas investors every year in Australia.
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