Benchmark Report 2018 promotes Australia as a leading global economy
02 Feb 2018
Steven Ciobo, Minister for Trade, Tourism and Investment, has launched Australia’s new Benchmark 2018 report during a visit to San Francisco.
The annual publication by the Australian Trade and Investment Commission (Austrade) presents key economic, financial and demographic data and shows how Australia’s resilient economy, coupled with sound governance and solid institutions, make it a safe, secure and rewarding place to invest and do business.
Australia’s robust economy is in its 27th year of consecutive annual economic growth—the only developed economy in the world to achieve this distinction. Over the next five years, Australia is expected to realise annual real GDP growth of 2.8 per cent—the highest among major advanced economies.
This year’s edition also examines the five dynamic industries in which Australia has the capacity and capabilities to provide goods and services to the world: resources, food, education, tourism and financial services. The country’s niche capabilities in disruptive technologies such as automation and quantum computing are also attracting global attention.
The report showcases the strong foundations that support Australia’s credentials as a low-risk destination to locate a business, as well as the country’s global ties, which facilitate the smooth flow of goods, services and investments with Asia, Europe and North America.
Finally, the report includes a section on Australia’s innovation and skills, demonstrating how the country is an ideal environment for cultivating and testing new ideas.
Austrade will provide in-depth economic analyses of key findings from the 2018 Benchmark Report over the coming weeks.
Contact Austrade for more information on investing and doing business in Australia.