Foreign direct investment into Australia maintains its momentum 5 August 2011 Australia’s world share of foreign direct investment (FDI) increased to almost 3 per cent in 2010, compared to its 2.4* per cent share in 2009. UNCTAD’s World Investment Report 2011 shows that FDI into Australia was US$508 billion** in 2010, as FDI worldwide continued to recover post-GFC. The figure, although due slightly to an appreciated Australian dollar against other major currencies, is indicative of a sustained interest in Australia as an investment destination. A Deloitte Access Economics Report also shows the value of current and future investment projects in Australia – albeit predominantly boosted by mining, resources and national broadband projects – has risen to more than A$830 billion after an 8.5 per cent jump in the June quarter. Australia’s strong economic fundamentals have been highlighted in recent months by the IMF and OECD, increasing Australia’s attractiveness to foreign investors. The top five major FDI source countries continue to be the United States, the United Kingdom, Japan, the Netherlands and Switzerland. * Note: This figure was previously reported at 1.8 per cent but has been upwardly revised to reflect changes in the exchange rate. ** A$474 billion, Australian Bureau of Statistics, (ABS) [Cat.5352.0], released May 3, 2011. More information |