Facts about Australia

Australia – Your Land of Opportunity….

A Western Style (European based) Society with a mix of European and Asian Culture. Australia’s world cities of Sydney and Melbourne have a hunger for sophisticated and advanced technology with one of the highest uptakes of new products and new technologies in the world.

A competitive economy

Australia has one of the most robust economies in the world—competitive, open and vibrant. The nation’s strong economic performance stems from effective economic management and ongoing structural reform. Australia has a competitive and dynamic private sector and a skilled, flexible workforce.

Strong growth with low inflation

Australia has had one of the strongest economies in the world in recent years, growing at an average annual rate of 4 per cent since 1990. GDP in 2004 was projected to reach $835 billion.

Australia’s economic growth is coupled with low inflation. Australia’s inflation rate has been stable over the past decade, and inflation in 2003–04 was just 2.4 %.

An important factor contributing to Australia’s ability to maintain low inflation with high growth has been the economy’s productivity performance. Since 1990, an average annual rate of over 2.3 %. (above OECD average of 1.8 %)

Taxation

A consumption tax. , the goods and services tax (GST), was introduced in 2000 and is levied at 10 %. It applies to almost all goods and services.

A healthy economic structure

Australia has a comprehensive economic policy framework in place. The economy is globally competitive and remains an attractive destination for investment. Australia has a sound, stable and modern political and institutional structure that provides certainty to businesses.

There is a strong prudential regulation system along with business-oriented corporate regulation and insolvency regimes. Competition is substantial in key areas such as transport, telecommunications, electricity and gas.

Australia engages closely with Europe on major trade and security issues. Bilateral links with European countries complement Australia’s direct dealings with the European Union.

Close engagement with Asia is an imperative for Australia, and bilateral political, security and people-to-people links between Australia and many Asian countries are strong and sophisticated. Economic relations are characterised by extensive two-way trade and investment and the development of comprehensive bilateral free trade agreements with a number of countries in Asia. Japan and China are Australia’s largest and third-largest export destinations respectively.

Australia has a strong interest in stability and economic viability in the South Pacific. It is the largest provider of development assistance and a major trade and investment partner for South Pacific countries. Australia works closely with New Zealand in the South Pacific, and in many other areas of shared interest.

Australia has an open economy with a business-friendly tax system and low barriers to trade and investment. The labour market is flexible and highly skilled, with strong Cultural and linguistic diversity was a feature of Australian life before European settlement. It remains a feature of modern Australian society, and continues to give Australia distinct social, cultural and business advantages.

Tourism

Tourism is one of Australia’s most important industries. It accounts for 5.7 per cent of total employment, contributes $73 billion to consumption per annum and is worth more than 11 per cent of total exports.

Visitors from the United Kingdom spend $2 billion annually, followed by visitors from New Zealand ($1.2 billion), Japan and the United States ($1.1 billion), and China ($908 million).

Beautiful beaches and natural rainforests, unique desert landscapes, exceptional reefs and lagoons. Australia’s unrivaled wilderness, underwater world, the red outback and the blue mountains offer a diversity in dramatic landscapes and outdoor activities, unrivalled anywhere else on the planet. If you want to dive in fish-filled marine sanctuaries or ski in world class resorts, Australia has it all.

Knowledge-based industries

Driven by the pace of technological and social change, innovation is leading to higher productivity and a more rapid development of information and knowledge in all industries.

Australia is one of many modern economies that has a strong knowledge-based economy—an economy driven by the production, distribution and use of knowledge and information. Knowledge-based industries now contribute almost half of Australia’s GDP.

Australia’s open economy is an excellent climate for enterprise and innovation. Information and communication technology (ICT) is one of the key industries driving economic growth, and Australia’s ICT spending as a proportion of GDP is the tenth-highest in the world.

Australian businesses are also heavy users of information technology. Australia’s telecommunications and IT market is the third-largest in the Asia Pacific and tenth-largest in the world.

Seasonal Products

Being in the southern hemisphere, Australia seasons can take up the slack during your Northern Hemisphere off-season.

Ten fast-facts1 about Australia’s traditional industries

1. Australia is one of the world’s largest exporters of beef (exports $3.8 billion)
2. Australia is the world’s third-largest exporter of dairy products ($2.2 billion)
3. Australia is the world’s largest wool producer and exporter ($2.8 billion)
4. The major grains and oilseeds produced in Australia include wheat, barley, canola, oats and sorghum. The world’s second-largest wheat exporter 15.2 million tonnes of wheat.
5. Australia cotton export $1 billion.
6. Sugar production exceeds $1 billion.
7. In 2003–04 the gross value of horticulture production was around $6 billion. Major horticultural products include fruits and nuts, vegetables, table grapes, dried vine fruits and nursery products.
8. Australian fisheries operate in one of the world’s cleanest environments ($2.1 billion).
9. In 2000–01 the value of turnover of Australia’s forest products was about $15 billion. Australia’s native forest area is around 163 million hectares and around 13 per cent of this is classified as conservation reserve.
10. The Australian food industry had an annual turnover of over $65 billion in 2002–03 and accounted for 46 per cent of total retailing turnover in that year.
    
    ¹Unless otherwise stated, based on 2004 data

Other Facts

Germany is the world’s 4th biggest exporter into Australia with over $8.2 billion exported here in 2004

Austria exported $834 million of products into Australia in 2004 (200 companies export to Australia)

a) Australia’s World-Class Cities

	Population	Main Character
Sydney	4 Mil	Business, Tourism, Wine Growing, Sailing
Melbourne	3.6 Mil	Business, Tourism, Manufacturing
Brisbane	1.5 Mil	Business
Perth	1.3 Mil	Mining, Fishing
Adelaide	1 Mil	Farming

b) Why Australia Is The Place For Your Product

• Businesses are at the forefront of World Innovations
• Sophisticated Consumer needs
• Large Farming Community
• One of the worlds major tourist destinations
• Fast technology adoption
• Gateway to Asia
• High Disposable Income
• Large Coastal Population
• Stable economic and political environment

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