Strong Foundations

Australia’s democratic institutions and sound governance create certainty for multinational companies looking for a low-risk environment in which to do business.

With almost all businesses open to foreign competition, robust regulatory frameworks and transparent business processes, Australia continues to be an attractive and dynamic destination for investment.

Australia’s free market democracy also facilitates vibrant entrepreneurial development.

Australia offers:

  • an environment that is ranked in the top 20 out of 190 economies for ease of doing business
  • an economy that is resilient to economic cycles
  • judicial independence and strong control of corruption
  • a welcoming place to live and work, with six Australian cities ranked in the global top 40 for their quality of living.
Ranked 5th in the world for economic freedom

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 five key reasons for investing in Australia – Robust Economy, Dynamic Industries, Innovation and Skills, Global Ties and Strong Foundations – 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.  An attractive place to do business
Australia is one of the easiest countries in the world to set up and operate a business, ranking in the top 20 out of 190 economies. It takes around 2.5 days and a minimum of three procedures to start a business. Australia is also placed in the top 10 for enforcing contracts (5th), getting credit (8th) and dealing with construction permits (9th).
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2.  Fourth largest pension system in the world
In 2017, Australia became the world’s fourth largest pension (superannuation) market, valued at US$1.9 trillion. It also experienced one of the highest growth rates of pension fund assets in the world. Australia’s pension assets rose to almost 140 per cent of GDP in 2017, up from 114 per cent in 2007. These findings illustrate the size and long-term growth of Australia’s pension system, which is a major force behind the country’s rapidly expanding, globally significant managed funds industry.
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3.  Stable, friendly and efficient business environment
Australia is rated among the most business-friendly economies and has one of the world’s most robust regulatory environments. The nation ranks highly on social capital, the soundness of its banks, central bank policy, and the economy’s resilience to economic cycles. Australia is also in the world’s top 10 for business legislation (complexity of tariff, equal opportunity and efficiency of clearance processes), judicial independence and rule of law.
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4.  Good governance and strong institutions
The quality of governance in Australia ranks among the best in the world. The country’s strong governance, stable institutions, robust rule of law and low level of corruption are vital to sustaining economic growth and security. These factors provide assurance for multinational companies considering Australia as a base from which to launch operations into the Asian region.
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5.  Cost-competitive location for office space
The cost of prime office space in Melbourne, Brisbane and Perth is inexpensive relative to Beijing, Tokyo, New Delhi, Shanghai, Seoul and Singapore; and less than a quarter of the cost of Hong Kong and London. Office space in Sydney’s CBD is a third of the cost of Hong Kong SAR (Central) and around half the cost of New York (Midtown Manhattan) and London (West End).
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6.  Enviable quality of life
Australia’s major capital cities continue to offer the world’s highest quality of living and are attractive destinations for expatriates on assignment. Sydney ranks 10th, Melbourne 16th and Perth 21st in Mercer’s 2018 Quality of Living Rankings. These three cities top the rankings across the Asian region, above Singapore (25th), Tokyo (50th), Hong Kong SAR (71st), Shanghai (103th), Beijing (119th) and Mumbai (154th).
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