While the Australia of today is a fairly young country it has a great history which goes back thousands of years to the aboriginal tribes.  The population of this massive country are well known for their relaxed attitude to life and their love of sports, with Australian Rules Football and Cricket especially popular.  Originally part of the British Empire, the country is now independent under the commonwealth flag - although there has been much speculation as to whether this will change in the future.

First discovered by the developed world in 1606, there were a number of claims of ownership on the country - with the British Empire finally stamping their authority.  While often mentioned in the same breath as the likes of New Zealand, Australia is actually fairly isolated from other countries with New Zealand some 2,000 km away.

The vast majority of today’s Australian population can be traced back to British and Irish ancestors, and unsurprisingly the country still receives a fair amount of British and Irish Expats living in Australia.  Other nationalities represented in Australia include New Zealanders, Italians, Vietnamese and the Chinese.  The Australian authorities have long since operated a fairly tight immigration system which is based upon a point scoring formula.  Only people who can offer something to the Australian economy and culture will be considered for residency. 

Contents: Economy in Australia | Prospects in Australia | Australia Facts

Economy in Australia

While the economy of Australia is still dependent upon agriculture, minerals and commodities, successive governments have been successful in introducing new areas of industry including a growing financial sector, and other service led industries.  Tourism is also having a larger impact on the Australian economy and the likes of the Olympics and other Cultural Events have heightened the country’s profile overseas.

The Australian economy is currently booming with unemployment down to a mere 4.6% of the workforce, and the volatile days of recent times are diminishing as the dependence upon commodities is reduced. As you would expect from a country with so much desert land, the property market is heavily focused of the more industrialised cities of Melbourne, Adelaide, etc.

The personal and corporate taxation system is a little more sever than the UK, with corporation tax set at 30%, and personal taxes in the region of 17% to 47%. This has allowed the Australian authorities to put together a fairly powerful welfare state to help the poor and needy.  Tax revenues should continue to rise with many analysts forecasting economic growth of approximately 3% per annum over the next 2 or 3 years, which is more than manageable.

Prospects in Australia

Australia has always been a popular country for expats, with many of the British and Irish population making their new homes in the country.  Over the last few years the immigration system has become a lot tougher, with strict screening of potential foreign nationals.  While criticised by many, the Australian hardline approach has helped to attract a fair amount of highly qualified professionals for areas such as nursing and communications, resulting in a boost to the economy.

Strong trade links with the likes of Japan, China, the USA, South Korea and New Zealand further highlight the potential for steady economic growth.

A reduction in the countries dependence on commodity prices has been well received, and should reduce the fairly wild economic fluctuations of recent times.  A growing tourist industry has been created due to Australia’s unique culture and heavy promotion overseas.  Australia has a warm climate, warm people and an economy which is showing signs of long term growth. 

Key Facts on Australia:

Bordered by Indonesia, East Timor, Papua Guinea (and New Zealand, all of 2,000 km away)

Food: Traditional English food.

Temperature: Varied, from desert like temperatures to cooler mountain weather.

Industries: Natural Resources, Agriculture and Tourism.

Education: 11 years compulsory education.

Health: Life expectancy 81 years