Doing Business In: Australia
Piper AldermanView firm profile
Australia is a land of great natural beauty and boundless opportunity. Despite often turbulent global financial conditions, Australia’s economy continues to be one of the world’s most stable. Sound governance creates certainty for foreign investment and Australia’s skilled workforce, ties to Asia and success in key industries makes Australia a great place for doing business.
Strong economy – Australia’s Gross Domestic Product (at purchasing power parity) is in the top twenty countries in the world. Australia’s economy has been growing for 28 consecutive years – setting a new record among developed economies for uninterrupted expansion.
Global success in key industries – Australia is globally successful in key industries such as energy and resources, agribusiness, education, tourism and financial services. Australia is the world’s largest producer of gold, iron ore and uranium and a major producer of agricultural commodities.
Innovative and highly skilled – Australia is ranked 5th in the world for global entrepreneurship, with almost half of all Australian firms active in innovation. Our population is highly educated (with over 40% of the workforce having a tertiary qualification), culturally diverse and multilingual (where 28% of the population was born overseas).
Globally integrated – Australia has an open trading economy with strong business and cultural ties with Asia. 10 of Australia’s top 12 export markets are within Asia and Oceania. Our top 5 trading partners are China, Japan, USA, Korea and India.
Ease of doing business – Australia is ranked 5th in the world for economic freedom. Our sound governance and democratic institutions create certainty for foreign investment. We have an economy that is resilient to economic cycles and Australia is a great place to live and work, with six Australian cities ranked in the global top 40 for their quality of living.
View the full Doing Business in Australia Guide here