Benefits of Investment/Business in Australia
22 Years of Uninterrupted Growth
Built on 22 years of uninterrupted annual growth, Australia’s robust and diverse economy is the only economy to consistently rank in the world’s top five most resilient economies since 2008.
Australia’s growth is underpinned by its strong trade ties with Asia, Europe and the Americas.
Australia is ‘triple A’ rated by all three major global ratings agencies. Real Gross Domestic Product (GDP) growth is projected to outperform every major advanced economy to 2018.
For investors looking for growth opportunities in a low-risk environment, these fundamentals provide confidence.
Growth Credentials: –
- The International Monetary Fund (IMF) forecasts growth of three per cent in 2013, and an average annual rate of 3.2 per cent from 2012 to 2017.
- Australia’s real GDP growth is expected to outperform every major advanced economy to 2017 (IMF World Economic Outlook, Oct 2012).
- Australia ranks as the world’s third largest energy export producer (International Energy Agency, Key World Energy Statistics 2012).
- Australia is much more than mining and resources: more than 80 per cent of its economy is services based.
- Australia has recorded 22 years of uninterrupted annual growth from 1991 to 2012, an achievement unequalled by any other developed economy (IMF World Economic Outlook Database 2012).
Australia’s strong track record, quality research institutions and commitment to world-class innovation make it a proven destination to develop new ideas and bring them to life. An advanced innovation framework, coupled with government and business investment in research and development, strong intellectual property protection and a track record of world-class outcomes, create opportunities for investors to collaborate in commercializing research and innovation. The country’s research institutions are among the best in the world and offer opportunities for private-sector industry collaborations. Australia’s talented and highly skilled workforce provides the resources necessary for investors to realise their potential.
Innovation credentials: –
- Total R&D investment has trebled in the past 10 years and Australia’s R&D spend has increased by almost twice the OECD average.
- Australians have invented or helped develop the bionic ear, Google Maps, high-speed WiFi, the world’s first cervical cancer vaccine—Gardasil and spray-on skin for burn victims.
- Australia is home to world-class universities and research institutions including six of the world’s top 100 universities.
- Australia’s national science agency CSIRO ranks among the world’s top scientific institutions.
World’s Fastest Growing Region
Australia is a major trading nation, with eight of its top 10 export markets within the Asian region. Australian businesses have been trading with the Asia-Pacific for more than half a century and understand these markets, offering the benefits of experience and established trade and investment ties.
With these trade links, strategic location and a highly educated, multilingual workforce, Australia is uniquely positioned as a platform for growth. Australia also bridges the world’s major time zones, offering 24-hour access for global organisations.
Location credentials: –
- Eight of Australia’s top 10 export markets are in Asia.
- By 2050 nearly two thirds of the world’s production and consumption will take place within the Asia-Pacific region
- Australia has seven free trade agreements in operation, including Singapore, Malaysia, and Thailand, and another nine in development.
- Australia’s westernised consumer culture makes it an excellent test market for products intended for launch in North America and Europe.
- Australia offers 24-hour access for global organisations.
Easy To Run A Business
Australia has a sophisticated financial sector that provides access to one of the world’s largest pools of investment funds under management and the region’s third largest pool of bank assets.
More than 18,000 foreign companies are registered in Australia, including 18 of the top 20 Fortune Global 500 and eight of the top 10 Fortune 100.
Business credentials: –
- Australia’s regulatory environment is ranked the world’s best (INSEAD 2012 Global Innovation Index).
- Australia is the second easiest place in the world to set up a business (World Bank Doing Business 2013 report).
- Australia’s financial sector has access to one of the world’s largest pools of investment funds and is the third largest pool of bank assets in the Asia-Pacific region.
Highly Skilled Workforce
Australia’s multilingual workforce is one of the most educated in the world. Investors can access highly skilled, innovative workers who are familiar with western and Asian cultures. Australia’s education system is recognised as world leading, ranking in the global top 10 in 2012.
Australian universities are world-class, attracting students from across the globe and producing great research outcomes. The country ranks well in attracting and retaining highly skilled workers. The lifestyle and quality of life make Australia an attractive destination for expatriate executives.
Talent credentials: –
- Australia’s secondary education enrolment rate is the highest in the world (World Economic Forum’s 2012-13 Global Competitiveness Report)
- More than one-third of Australia’s workforce holds a tertiary qualification
- Nearly two per cent of the population has a PhD, ranking Australia ninth in the OECD
- More than one million Australians speak a European language and more than two million speak an Asian language at home (Australian Bureau of Statistics 2011 Census)