Australia even now a great area to do organization

Office of Foreign Affairs and Trade

The Morrison Government’s well being and economic reaction to COVID-19 has put Australia’s restoration between the world’s main nations, according to an evaluation of world wide info.

The 2021 Why Australia Benchmark Report, manufactured by the Australian Trade and Investment Commission (Austrade) and unveiled today, compiles critical economic, fiscal, social and demographic knowledge from respected nationwide and international sources.

The report demonstrates Australia is recovering properly from COVID-19 highlighting its attractiveness as a vacation spot for worldwide financial commitment and trade.

Report highlights contain:

  • Australia punches previously mentioned its bodyweight economically, accounting for 1.6 for every cent of the worldwide economic climate even nevertheless it’s dwelling to just .3 per cent of the world’s inhabitants.
  • The trade harmony is at a record substantial, underpinned by robust items export growth.
  • Monetary marketplaces are deep, liquid and innovative, Australia is dwelling to the world’s eighth-major pool of managed funds and ninth-biggest stock current market (by industry capitalisation of freely floating stocks). The foreign trade and credit card debt markets are the two rated tenth in the globe.
  • Virtually 50 {f13b67734a7459ff15bce07f17c500e58f5449212eae0f7769c5b6fbcf4cc0c4} (47 for every cent) of Australia’s workforce has a tertiary qualification.
  • Australia is ranked #1 in the globe for technological readiness #4 for ease of performing business in nations with a inhabitants of more than 20m #6 for worldwide entrepreneurship #7 for investing on education and learning establishments as a proportion of GDP and, #8 on the Human Improvement Index, a measure of literacy and education.

Minister for Trade, Tourism and Financial investment Dan Tehan claimed Australia welcomed international expenditure and trade for the reason that it made work opportunities and opportunities for Australians.

“Our Government’s trade plan is about generating Australian positions, boosting export alternatives and making sure an open up location with even much better supply chains,” Mr Tehan reported. “The knowledge contained in this report demonstrates the resilience of the Australian economic climate and the strength of our economic and health and fitness reaction to COVID-19 that cements our placement as a environment-leading location for expense.”

The full report is at https://www.austrade.gov.au/benchmark-report.

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