Business

Australia’s political stability, transparent regulatory system, and sound governance frameworks underpin its economic resilience.

Ranked in the global top five on the Index of Economic Freedom, Australia’s effective governance provides multinationals with a safe, secure business environment.

Australia offers:

  • a business environment that is ranked 15th out of 190 economies for ease of doing business
  • a robust regulatory system noted for its stable institutional frameworks and strong finance and banking regulations
  • competitive rates for office space and the remuneration of professionals
  • a quality of life that is rated the seventh highest in the world.
More than 22,000 foreign companies registered in Australia

Charts from the Benchmark Report

The Australia Benchmark Report provides rich data demonstrating why there is no better place than Australia to do business. The report examines six key reasons for investing in Australia – Growth, Industries, Talent, Location, Business and Innovation – and compares Australia’s credentials with other countries.

Charts can be downloaded and saved as images for use in reports and presentations (when using please reference www.austrade.gov.au)

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1. Fifth in the World for Economic Freedom
Australia is ranked fifth in the world for overall economic freedom in the 2016 Index of Economic Freedom. The Index states “the economy has benefited from lasting entrepreneurial development facilitated by an effective system of government, a well-functioning legal system and an independent bureaucracy.” It stresses that “Australia continues to be an attractive and dynamic investment destination, with almost all industries open to foreign competition and a skilled workforce readily available.”
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2. Ranked 15th For Ease of Doing Business
Australia is ranked 15th out of 190 economies for ease of doing business, and fifth when compared to economies with a similar or larger population. In particular, Australia’s quality of judicial processes index is rated the world’s best. Australia also ranks well for dealing with construction permits (2nd globally), enforcing contracts (3rd), ease of getting credit (5th) and starting a business (7th).
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3. Cost-competitive Location for Office Space
Prime office space in Australia (using an average of all major cities) is among the most competitively priced in the world, and compares favourably to global and regional business centres. The cost of prime office space in Sydney is less than a third of the cost of Hong Kong (Central) and half of that in Beijing (Finance Street).
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4. Competitive Remuneration Rates for Professionals
Australia offers a highly skilled, multilingual and attractively priced domestic workforce. Salary levels for skilled professionals are generally competitive relative to major centres around the world, due to moderate wage growth over the past three years and a lower Australian dollar.
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5. Stable, Friendly and Efficient Business Environment
Australia has one of the world’s most robust regulatory environments and is rated among the most business-friendly economies. The country is ranked highly in terms of legal rights, justice, the soundness of its banks and corporate debt. Australia is also in the world’s top 10 for its efficient stock markets, strong finance and banking regulations and stable institutional frameworks.
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6. Good Governance and Strong Institutions
The quality of governance in Australia ranks among the best in the world. The country’s strong governance and stable institutions are key to sustaining economic growth and security, providing assurance for multinationals expanding their businesses or considering Australia as a base in the Asian region.
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7. Enviable Quality of Life
Australia’s major cities enjoy some of the highest quality of living in the world. Sydney ranks 10th globally, Melbourne 15th and Perth 21st in Mercer’s 2016 Quality of Living Rankings. These three cities top the rankings across the Asia-Pacific region, well above Singapore (26th), Tokyo (44th), Hong Kong (70th), Shanghai (101st) and Beijing (118th).
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