Australia is the sixth largest country in the world which covers 7.7 million sq km (2.9 million sq miles) with comparatively less population. It is of same size as USA. The most of the rural areas in Australia are uninhabited which makes Australia one of the most urbanized countries in the world. Australian’s market is very potential with a highly educated, affluent population which realizes the importance of international trade so they warmly welcome international companies to do business in Australia.
Australia is the fifth largest economy in the Asia-Pacific region, and the 14th largest economy in the world, with an annual average GDP growth rate from 1998 to 2009 of 3.5% in 2010 GDP growth was 3.3%. Australia is a key member of Asia Pacific Economic Cooperation forum (APEC) and is working to establish free trade agreements with China and the Association of Southeast Asian Nations (ASEAN). There are opportunities for international companies in these sectors .
• Financial services
• Mining and minerals
• Oil and gas
• Environmental technologies
• Business and consumer services
• Education and training
Sydney and Melbourne being the largest cities are main commercial centers. Brisbane, Adelaide and Perth offer important export opportunities as well across a diverse range of industries. Canberra has little manufacturing industry. There is a sophisticated market for Exporters to expose their products in Australia before exporting to Australia one should work thoroughly about target market and business structure that will be most appropriate for establishing in Australia.
There are business consulting agencies which can extend their services to international companies wishing to grow their business in the Australian market these services include the provision of market information, validated lists of agents/potential partners, key market players or potential customers; establishing the interest of such contacts in working with the company; arranging product launches in our state-of-the-art facilities, providing PR advice and services, and arranging appointments. In addition, they can also organize events for you to promote a company and its products/services. Australian geography should be considered while making business decisions as Australia is a vast country with low population density the distance between some big cities is worth noting so decisions on where to base your business and how to expand it should be considered carefully.
If you are not Australian citizen you will require visa before travelling to Australia from Australian High commission in your country to enter and stay in Australia. The average cost of living in Australia is high as compare to Europe with high living standard.