The Australian economy is the 12th largest economy in the world and has reported growth for the last 23 consecutive years. Foreign investments boost the economy, and the Australian Government encourages Foreign Investors to invest in the country. Australia has very transparent and efficient, Regulatory Bodies. It is ranked fourth in the world for their Finance and Banking System. The Legal system is efficient, making it easier to conduct Business in the country.
Why invest in Australia?
The Australian Government promotes Foreign Investment through the agency Austrade. Austrade highlights the growth opportunities in the country and promotes foreign investment in the five major areas that are given below:
- Food and Agriculture
- Infrastructure
- Tourism
- Energy and Resources
- Advanced Manufacturing, Services, and Technology
Food and Agriculture:
Australia has approximately 140,700 farms with 90% of these dedicated to agricultural production. Agriculture is an important factor for the Australian economy and the farmers ensure that they produce quality products. Australia offers plenty of opportunity to invest in agriculture and food business. The diverse climatic condition in the country is suitable for cultivating various products, and the long line of seashore provides ample opportunity for sea food sector. The dairy sector is Australia’s 3rd largest rural industry sector, and Australia accounts for 7% of world Dairy Trade. Australia has excellent logistics network, which helps in timely export to other countries.
Infrastructure:
The Australian Government is very keen on attracting investment for its accelerating need for Infrastructure growth. Around 89% of Australians live in Cities, Regional Centers and Towns along the coastal line, which has further increased the pressure on Infrastructure.
Tourism:
The country has beautiful landscapes, serene coastal line, and long range of mountains, all of which makes it a traveler’s dream destination. It is the 8th largest tourism market in the world. The Australian Government encourages investing in Australian Tourism Infrastructure, as the Government wants to increase the revenue from the Tourism Industry. International Aviation Industry to Australia is expanding with the Airlines across the globe commencing new services to the country. The Australian Government is focusing more on increasing Tourist accommodation facility and Aviation facility, and encourages foreign investment in both.
Energy and Resources:
Australia has vast petroleum and mineral resources that are unexplored. The exploration opportunities in oil, gas, and mineral sector have increased the investment and employment opportunities in the country. Australia is known for its innovative technology in the mining sector. The Australian Government has very transparent and clear regulatory framework that helps the international investors to invest in its fuel and energy sector. The government even provides tax concessions and incentives for exploration companies.
