Australia Market

Are you a global company looking for a cost-effective and low-risk location that addresses the challenges of servicing the world’s fastest growing region? If so, then Australia should be an integral part of your Asia Pacific Strategy, complementing and supporting your approach to key locations like China and India.

With the maturing of the global sourcing industry, and companies recognising that more and more aspects of their operations can be sourced away from their traditional headquarters, Australia is well placed by time zone, skills base, language mix and management expertise to offer a nexus position in the Asia Pacific.

Global trends suggest security, availability of professional services staff and good management ability are just as important in the overall cost analysis. Awareness of the inherent risks requires a sophisticated review of all factors that affect total cost of operations. Australia offers high staff productivity, low staff turnover, sophisticated and inexpensive infrastructure, and a secure geopolitical location – in short, companies can predict in advance the costs and returns.

 

Interaction between Australia and the rest of the world is easy, and many international corporations enjoy the advantages of locating their operations here. Australia's strong business and cultural links with Asia provide multinational companies an excellent opportunity to locate their key regional and global functions.

Australia has one of the most multilingual populations in the Asia Pacific with citizens from over 200 countries. About 3 million of Australia's population of 22 million speak a language other than English at home making Australia an ideal location to cater to the demands of a global business.

 

Australia's unique geographic and time zone advantages, its cultural affinity with Asia, and its American/European business environment make it a strategic business bridge to Asia. Australia is also the perfect launching pad for Asian companies to enter the European and American markets.

Australia has long historical ties to Europe and the USA. The USA is arguably Australia's most important economic partner, being one of Australia's major merchandise trading partners, its largest services trading partner and the major source of foreign investment. The close relationship with the USA is important to Australia's commitment to the Asia Pacific region, where the USA's assistance helps maintain regional prosperity and security. The educative and cultural ties between Australia and the USA are far ranging, complimentary and help to support productive business links. Australia has a Free Trade Agreement (FTA) with the USA.

Australia continues to grow its relationship with the European Union. This relationship was formalised by the Joint Declaration on Relations between Australia and the European Union agreed in 1997 and the more recent (2003) action plan, Australian-European Union: an agenda for cooperation. The United Kingdom, Germany, Italy, France and the Netherlands are amongst Australia's top 20 trading partners. Australia has deep cultural links to the United Kingdom. Australians of European descent from countries such as Bosnia and Herzegovina, Germany, Greece, Ireland, Malta, the Netherlands, Italy, Turkey, Poland and Croatia also contribute to strong people-to-people relationships.

Australia has strong links with much of Asia and the Pacific. Australia has FTAs in place with Singapore, Thailand and New Zealand and is currently negotiating FTAs with China, Japan, Malaysia, and ASEAN. Australia also has a strong relationship with the Republic of South Korea and India. Japan is Australia's largest export market and has been so since 1967 it is also Australia's third largest source of foreign investment. China is Australia's largest merchandise trading partner and a significant investment partner. Indonesia is Australia's closest neighbour and the relationship encompasses political, security, commercial, cultural and people-to-people links. Australia has committed itself through the Australia-Indonesia Partnership, to providing ongoing assistance for Indonesia's economic and social development.

 

Australia has a motivated, well educated workforce that is driven to succeed. This is due not only to the strength of its education system but also an inherent cultural belief in hard work and a fair go for all. Australia has a rich science and technology base founded in our schools and universities. Australia's education system is ranked seventh in the world and second in the region for meeting the needs of a competitive economy. Further, Australian students are ranked 4th in science in all OECD countries. Australia's education system teaches our students how to be timely and motivated and values innovative thinking and approaches to problem solving. On average across all industry sectors, over 30% of the Australian population has tertiary qualifications.

Australia is a favoured destination for Asian students wanting to further their education. This trend has the advantage of building closer ties with former students when they return to their birth country and adds to Australia's multilingual workforce for those that choose to stay in Australia once their education is at an end.

 

Australia is welcoming of new business and abounds with opportunities for investors. The OECD considers Australia's approach to regulation as best practice. Of the 30 OECD countries, Australia has been identified as having the fewest restrictions on product markets, the least public ownership of business and the least restrictive impact of business regulation on economic behaviour.

 

Australia ranks as one of the lowest cost business locations in the industrialised world. With average business costs around 8 to 9 per cent below those in the US, Australia is ranked the second most cost competitive country for business operations in the developed world.

The cost of prime office space in Sydney is 70 per cent less than in London and Tokyo, 63 per cent less than in Hong Kong, 60 per cent less than in Mumbai, and 7 per cent less than in Shanghai.

Electricity costs per kilo-watt hours for industrial clients (US$0.060) are cheaper in Australia than in the UK, Singapore, Germany, Honk Kong and Japan. International fixed telephone costs (US$0.64 per 3 minute peak hour call to the USA) are cheaper in Australia than in the UK, Singapore, Malaysia, Hong Kong, Japan or China.

The cost of living in Australia is seventh lowest in the developed world, behind Canada, New Zealand and the USA. Australia rates among the top five economies globally for values of society supporting competitiveness.

 

Australia is strategically located in the fast growing Asia Pacific region.

Australia is the first major financial centre to open in the Asian time zone. Australia's working day provides a bridge between the end of the US work day and the beginning of the European work day - a strategic advantage over India, Tokyo, Hong Kong and Singapore, Australia is an ideal base to do business from.