Cost-Competitive Country

Why is Australia a Favourite to So Many People?

5. Cost-Competitive Country

In a recent survey of 128 cities in ten countries, Australia ranked as the second most cost competitive nation, with a cost advantage of 8% over the United States. Business costs were lower in Australia than in Germany, Japan, the US, UK, Italy, France, and the Netherlands (KPMG 2006).[7]

Did you know?

• Australia is the fastest place in the world to start a business with regulatory procedures taking just two days compared to OECD average of 15 days (World Bank 2007).
  
• 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 (OECD 2007).
• Australia's stock market is the largest in Asia ex-Japan, and ranks 8th in the world. Australia's market capitalisation (by floating stocks) is US$1,027 billion, almost triple the size of Hong Kong market and five times larger than Singapore (S&P/Citigroup, Jul 2007).
• In terms of global turnover, Australia's foreign exchange market is the seventh largest in the world, the Australian dollar is the six most traded currency and the A$/US$ is the fourth most traded currency pair globally (BIS, Triennial Central Bank Survey in 2007).[6]

Find out proven ways to wealth creation. Recommended resources to enrich yourself >>