Australia offers foreign investors a range of opportunities, one of which is the chance to do business in a thriving economy and take advantage of the country's growing middle class. Whether you are looking to expand your business and sell goods/services to the local population of Australia, or those looking to take advantage of Australia's vast natural resources to manufacture products for export, there are many ways to enter the Australian market and establish a real presence here.
Unlike most other countries in the world, in the context of the global financial crisis that happened more than ten years ago, Australia was able to maintain control over its banking system and inflation. In recent years, trade has also been developing very actively in the country, in particular, trade relations with Asia, the Middle East and Latin America are being established. Natural resources such as coal, copper, iron, natural gases, gold and more are exported. As a consequence, several large international organizations have already invested in this sector in Australia, increasing employment and exports.
Let's take a look at a few facts that prove Australia is a fast-growing and attractive investment market and look at a few of the sectors and industries that are most popular with foreign investors.
In the World's Ease of Doing Business Rankings, Australia is in the top 20 out of 190 countries. It is also in the top ten countries in terms of performance of contracts (5th place), obtaining loans (8th place) and work with building permits (9th place).
Australia's business environment differs significantly from other countries, however, due in part to its geographic location. Since Australia is so far from the United States and key European countries, it has established trade relations and entered into agreements with a number of other countries.
As a result, Australia today actively participates in key trade forums such as the World Trade Organization (WTO), the Asia-Pacific Economic Cooperation (APEC) and the G20, as well as concluded free trade agreements with China, USA , Chile, Malaysia, Japan, Thailand, Singapore, New Zealand, Korea and other countries, making it one of the most developed and diverse economies in the world. Some of the most recent agreements were signed with Indonesia and Hong Kong.
Australia is the only country in the developed world that has shown consistent annual growth without recession for 28 years at an average annual rate of 3%. This enviable indicator of sustainable growth proves the strength of the country's economy and creates a safe and low-risk business environment.
Australia regularly ranks high in the rankings for quality of life, stability and safety. The ability to respond quickly to global changes and a diversified economy support its sustainable growth. In the Index of Economic Freedom for 2019, this country was ranked fifth in the world. Six Australian cities are ranked in the top 10 cities in the world for quality of life.
A highly educated and wealthy population of more than 24 million people prefer quality and expensive food. In particular, the state of New South Wales has the highest level of consumer spending - in 2017, this state accounted for more than a quarter of Australia's total spending.
Yes, Australia attracts foreign investors with its open economy and minimal trade restrictions allowing businesses to import goods/services from all over the world. This business environment has allowed the country to increase productivity, spur investment growth and provide foreign investors with a unique opportunity to sell more of their goods without restrictions, as well as use Australia to trade in other markets, such as Asia.
Long-standing ties with Asia have contributed greatly to Australia's prosperity. The country has long supplied natural resources to the Asian region and is known as a reliable supplier of organic and safe agricultural products as well as premium products. You can find out more about the agreements that have been concluded between Australia and Asian countries in this article.
Australia is a leader in economic development. Due to the high rate of GDP growth in Australia, the state has overtaken the progressive countries of Europe and America. The economic crisis of the 90s not only did not worsen the situation, but on the contrary, it is one of the few countries that came out of the crisis with a plus sign.
Australia makes good money on natural resources. The continent sells the wealth of the land to China, Japan, South Korea, USA, India, New Zealand. thereby allowing the country to gain a foothold in the world market. Australia's foreign trade has brought the country over 1.45 billion Australian dollars over the past year.
The favorable economic environment has brought the unemployment rate to a minimum. The government of the country is constantly developing and implementing social projects that improve the demographic situation and the standard of living of the population.
Unemployment in Australia goes to zero
In 2020, the country's GDP will reach $ 58,000. And in the future, the figure may grow to $ 60-61,000 per capita.
Australia's GDP is broken down as follows:
The following minerals are being extracted intensively in the country:
Most of them are exported. Oil and natural gas are produced in such quantities as to meet domestic needs.
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