Australia, just like any other country, had to deal with the effects of the COVID-19 pandemic. However, because of the government’s decisive actions, the virus’ spread was minimised. The various economic stimulus provided also helped sustain households and businesses.
The proactive measures done helped the country’s economy bounce back relatively quickly. It even allowed for investment opportunities in Australia to open up. The energy, agriculture, and export industries continue to grow. The country also has strong trading relationships with major markets worldwide, opening opportunities to expand Australia’s global presence.
Australia is full of resilient, creative, and enterprising people. It is open to foreign investment, whether a startup, research organisation or multinational corporation. The country’s business environment is safe and stable. Perfect for doing business in. Solid governance, smart people, and global connection sweeten the pot.
If you are still looking for reasons why you need to invest in Australia, here it is:
Despite the challenges the country faced at the start of 2020 that shut down international borders and disrupted trade, its economy remained robust. Despite the challenges, the energy, resources, and agriculture exports kept growing. It is due in part to the stimulus package given by the Australian government. The government provided 15.7% of GDP as a stimulus package to support the livelihood and businesses of Australians.
The influential public health response and the people’s adherence to community lockdowns minimised virus transmission.
The combined response and measurements put in place are why Australia was less hit economically than the other countries. The country’s GDP decline was only 2.4% compared to the -4.7% average across advanced economies.
Australia has robust industries that are great to invest in. Its energy and resource industry revenues are projected to hit $296 billion in 2020-21. Investment growth is also seen in critical Australian minerals. The growth is due to the high demand for lithium-ion batteries, high-tech manufacturing, and renewable energy plants. Agri-foods are also soaring high. For example, revenue from beef exportation reached $19 billion in 2020. The decline in international tourism was patched by the Australians’ love for domestic travel. Its financial sector also continues to grow.
For those wanting to invest in Australia, the five major industries are agriculture, tourism, energy, resource, and education.
Innovation And Skills
Australians are naturally innovative and creative. Australian academics are leaders in the research field. They lead in space science, computer science, physics, and clinical medicine, among others.
Australian universities are known to offer quality education. 17 Australian universities made it into the top 100 schools, impacting the United Nations Sustainable Development Goals. Investors will not go wrong if they invest in a country with highly innovative people.
Australia’s open economy is deeply ingrained in global trade. The country has 15 trade agreements with markets across North and South America and Asia. It also joined the Regional Comprehensive Economic Partnership, the world’s largest free trade agreement.
These reasons, along with Australia’s good governance and policies, make it a haven for investors. It is a country where trade is encouraged and cultivated. So leap out of faith and grab the investment opportunities in Australia that will come your way. You will surely reap leaps and bounds from your investment.