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Introduction

After slow growth in 2008 and 2009, the Australian economy rebounded with a GDP growth of 2.48% in 2010 and 2.44% in 2011. In 2012, GDP growth reached 3.62%, while in 2013, fell to 2.47% due to the slowdown of investment in the mining sector while non-mining investment lagged because of excess capacity and an overvalued currency.

Features and benefits

* Understand how the report can be used to plan business investments or market entry by providing a holistic view of the country.
* Gain an understanding of the political situation in Australia, including key figures in the country and governance indicators.
* Understand customer demographics in Australia through analysis of income distribution and the rural-urban split, as well as healthcare and education.

Highlights

The PESTLE analysis of Australia identifies issues that affect the country's performance using the strengths, weaknesses, opportunities, and threats (SWOT) framework.
The political landscape section discusses the evolution of the political scenario in Australia, as well as the country's economic, social, foreign, and defense policies. The section also discusses the country's performance according to World Bank Governance Indicators.
The economic landscape section outlines the evolution of Australia's economy, as well as the country's performance in terms of GDP growth, composition by sector (agriculture, industry, and services), fiscal situation, international investment position, monetary situation, credit disbursement, banking sector, and employment.

Your key questions answered

* How does Australia perform in terms of technology-intensive sectors like telecommunications and IT, patents, and R&D expenditure trends?
* What is the legal structure in Australia and are the laws conducive to investment?
* How does Australia perform in terms of environmental indicators and its environmental policies?
* How does Australia perform in terms of healthcare, income distribution, and education?

Table Of Contents

Country Analysis Report: Australia, In-depth PESTLE Insights
OVERVIEW
Catalyst
Summary
Key findings
PESTLE highlights
Key fundamentals
KEY FACTS AND GEOGRAPHICAL LOCATION
Key facts
Geographical location
PESTLE ANALYSIS
Summary
Political analysis
Overview
Current strengths
Current challenges
Future prospects
Future risks
Economic analysis
Overview
Current strengths
Current challenges
Future prospects
Future risks
Social analysis
Overview
Current strengths
Current challenges
Future prospects
Future risks
Technology analysis
Overview
Current strengths
Current challenges
Lack of collaboration
Future prospects
National Broadband Network
Creation of new enterprises
Australia has seen one of the highest numbers of creation of enterprises as of early 2013, since 2007 (fig 22a). According to OECD, an enterprise creation refers to the emergence of a new production unit. This is well above many OECD peers. Moreover, employer enterprise birth rate (refers to the birth of an enterprise with at least one employee) was one of the highest in Australia among OECD countries (fig 22b). This indicates that there is a strong entrepreneurship culture in Australia, which could provide the required impetus to innovation.
Future risks
Legal analysis
Overview
Current strengths
Current challenges
Future prospects
Future risks
Environmental analysis
Overview
Current strengths
Current challenges
Future prospects
Future risks
POLITICAL LANDSCAPE
Summary
Evolution
Pre-1950s
1951-90
1991-2000
2001-04
2005 onwards
Structure and policies
Key political figures
Structure of governmentAustralia uses a federal system, implying the division of powers between the national government (also known as the Commonwealth parliament) and the states. The bicameral parliament consists of two houses: the Senate and the House of Representatives. The constitution provides for the Commonwealth government's legislative powers and allocates certain powers and responsibilities (known as "heads of power") to the Commonwealth government. All remaining responsibilities are retained by the states.
Structure of legislature
Composition of parliament
Key political parties/figures
Key policies
Performance
Governance indicators
Outlook
ECONOMIC LANDSCAPE
Summary
Evolution
Pre-1940
1941-75
1976-2014
Structure and policies
Overview
Financial authorities/regulators
Performance
GDP and growth rate
GDP composition by sectorIn Australia, the service sector is the biggest contributor to overall GDP, contributing 69.55%. This sector is followed by the industrial sector, which constitutes 28.21% of GDP, and the agricultural sector, with a negligible 2.25% contribution in 2013, according to MarketLine.
Fiscal situation
Current account
Exports and imports
International investment position
Monetary
Key monetary indicators
Unemployment
Outlook
SOCIAL LANDSCAPE
Summary
Evolution
Structure and policies
Demographic composition
Religious composition
Education
Healthcare
Performance
Healthcare
Education
Outlook
TECHNOLOGICAL LANDSCAPE
Summary
Evolution
Structure and policies
Performance
Intellectual property
Outlook
LEGAL LANDSCAPE
Summary
Evolution
Structure and policies
Structure of the judicial system
Tax regulations
Performance
Effectiveness of the legal system
According to the World Bank's Doing Business 2014 rankings, the country was ranked 11th among 189 countries. The 2014 indicator shows that the number of days required to start a company in Australia is two and a half, compared to the OECD average of 11.1. The starting business indicator also indicates efficiency and highlights the hassle-free business environment.
Outlook
Australia is one of the most attractive destinations for foreign investment in the world. However, in recent times, the professional services market has witnessed increasing regulations, although it remains well below the OECD average. Nevertheless, Australia has performed well in term of regulations in other sectors. Improving the regulatory structure for investor protection, in which Australia lags behind its western peers, is important to the country's development. A proposed cut in corporate income tax will benefit businesses.
ENVIRONMENTAL LANDSCAPE
Summary
Evolution
Structure and policies
Performance
Environmental impacts
Outlook
APPENDIX
Ask the analyst
Disclaimer

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