The Heritage Foundation, a research and educational institution has named Australia as one of the top three countries to do business with behind only Hong Kong and Singapore. New Zealand and Taiwan finished at 4 and 5 respectively.
The ranking was based on the ease of doing business in the country. According to Heritage, ”Australia has weathered the global economic uncertainty well.” They highlighted that the nation has an economy that benefits from sound fundamentals including monetary stability, low public debt, and a vibrant employment market.
Trade Minister Andrew Robb boasts that Australia is the only OECD (Organization for Economic Co-operation and Development) country that has not experienced a recession in the past 22 years. 40% of the Australian workforce comprise of individuals with tertiary qualifications, and the educational system ranks 3rd in terms of Universities in the Top 100 worldwide.
Despite questions on the economic stability of the country, Australia still remains resilient. The Trade Minister couldn’t put in any better: our strength lies in our “growth, innovation, talent, location and business”.
Head to the Sydney Morning Herald website for the full article.
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