Dec 3, 2009

The Australian economy



As soon as you move to Australia you realise that this is an area of the world which is growing in popularity and has seen a significant increase in trade with worldwide partners. For many years Australia was isolated from the worldwide marketplace although recently there has been a major change in the make-up of the economy and Australia is now very much on the up with commodity exports playing a major part in the Australian economy


                However, it is also interesting to see that the services sector now accounts for 69% of GDP in Australia with particular emphasis on the tourism, education and financial services. This has added yet another arrow to the Australian bow and opened up new and exciting opportunities for Australian businesses and the Australian economy as a whole. It was interesting to see that during the recent credit crunch and worldwide economic downturn the Australian market performed better than most and indeed has pulled out of recession far quicker than many other developed countries around the world. Whether this is because the economy is still fairly immature and robust at the same time, or the fact Australia is still a major player in the commodities market is open to debate.

The Australian multicultural society

Despite the fact that we cited Australia’s resistance to follow the politically correct path which many governments around the world have taken, there is no doubt that Australia is one of the most multicultural societies in the world and there is little friction between the different cultures and different ethnic groups. Surprisingly, the vast majority of the 22 million people who live in Australia are descended from Europe from the time of colonial settlers.

The 2006 Australian census confirmed that the breakdown of the population was as follows, Australian 37.13%, English 31.65%, Irish 9.08%, Scottish 7.56%, Italian 4.29%, German 4.09%, Chinese 3.37% and Greek 1.84%. This perfectly reflects the strong connection which the Australian population has with Europe and the settlers of years gone by. However, many people will be unaware that since World War I the population of Australia has quadrupled due to a massive immigration program which has on the whole been successful, even though the government of today has tightened the requirements and regulations for expats moving to Australia.

The Australian landscape

If you move to Australia you will soon find a massive array of different landscapes and different climates available across the length and breadth of the country. As we mentioned in one of the paragraphs above, the country has everything from deserts to tropical rainforests and everything else in between. We have Ayres Rock, the Great Barrier Reef, the Sydney Opera House and many other standout landscapes and buildings across Australia.

It is amazing to think that Australia has a land mass in excess of 7,600,000 km² although as we are all aware the vast majority of the land is left desolate with large pockets of heavily populated regions dotted up and down the country. Australia itself is the world’s smallest continent, and the sixth largest country by total land area, it also has an amazing 34,000 km of coast and an exclusive economic zone of 8,100,000 km². Australia is in simple terms enormous!



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