Introduction: Australia Is One Of The Most Unique Countries ✓ Solved

Introduction Australia is one of a unique country in the world. It

Australia is one of the unique countries in the world. It can be termed a continent and a country, making it the smallest continent and the largest country globally. Located between the Indian Ocean and the Pacific Ocean in the southern hemisphere, Australia's capital city is Canberra, situated in the southwest.

The mainland of Australia extends approximately 2,500 miles (4,000 km) from east to west, spanning from the Cape York Peninsula in the northeast to Wilsons Promontory in the southeast, which measures about 2,000 miles. Australia is an island and a continent that covers an area similar to that of the United States. With a total population of about 18 million people, approximately 80 percent of Australians reside in the ten largest cities, with Melbourne and Sydney being the most significant.

It is important to note that the first colonial settlement in Australia was established by England in 1788, which means a majority of the country’s population is of English origin. After World War II, around 90% of Australians were born in Australia, with only 9% being immigrants. Following the war, over 5 million immigrants primarily from European countries were welcomed into Australia. Additionally, during the 1970s and 1980s, numerous refugees from countries like Cambodia and Vietnam sought asylum in Australia.

Today, the native Aboriginal Australians comprise only about 1 percent of the total population. English is the primary language spoken in Australia, introduced by the English settlers upon their arrival. The country's history can be traced back to 1788 when explorers landing on its shores took note of the terrain and began mapping the lands, a practice that laid the foundation for its governance.

Australia boasts an impressive transportation network, facilitating road and water transport. However, due to its vast size, transportation costs can be high. The modern roads in Australia have evolved from historical patterns, radiating from ports to state capitals, enabling efficient connections between major towns. Additionally, Australia offers a well-developed rail transport system that enhances the ease of movement within the country.

Political Environment

The political stability of Australia is a cornerstone to its business environment. The country is led by a monarch type of government, currently represented by Queen Elizabeth II, with the governor representing the Crown at a local level. The Prime Minister oversees the government, and the general political atmosphere is one of stability and regulatory comfort, key factors that encourage business investment.

Australia's favorable taxation policies simplify operations for businesses, ensuring that everyone, regardless of income levels, has the opportunity to start a business. The low taxation rate supports entrepreneurial ventures, and strong contract enforcement laws offer protection for business agreements. In essence, the government's regulatory framework fosters a positive environment for businesses to thrive (David, 2018).

The Fair Work Act of 2009 governs employee rights and safety standards in Australia, creating a framework that upholds equitable treatment and non-discrimination in the workplace. Such legislation protects the workforce and forms a critical element of Australia's social fabric.

Economic Environment

Australia's economy has seen significant growth over the years, attributed to well-structured governmental policies. One prominent factor is the continual increase in property values, indicating strong capital growth. The country also enjoys a robust currency exchange system, welcoming various international currencies which support trade and economic stability.

Australians benefit from favorable interest rates, which, combined with sound monetary policy set by the Reserve Bank of Australia, promote lending and facilitate economic activity. This approach minimizes inflation—evident with the country’s inflation rate of around 1.61% as of 2019—helping maintain price stability and protecting the purchasing power of citizens (Kremer & Symmons, 2015).

Social-Cultural Environment

The social structure in Australia influences its economic landscape. With approximately 80% of the population residing in ten major cities, the cost of living remains manageable, fostering a thriving middle class that constitutes roughly 60% of the total population. Income distribution indicates a significant disparity, with the top 20% of households earning nearly half of the total income of the nation.

Population growth has been consistent, with approximately 25.5 million residents as of 2019 and an annual growth rate of about 1.18%. The urban population, representing around 85.7% of the total, underscores the demand for goods and services in these primary cities, further promoting business opportunities. Australian citizens have a strong work ethic, prioritizing deadlines and professionalism, which adds value to the workplace (Sophia, 2015).

Technological Environment

The Australian government prioritizes innovation and technology through significant investment in research. Over $10 billion has been earmarked for technological research and development. This investment includes enhancing internet connectivity, with an impressive rate of penetration at 88% as of 2018, which significantly supports businesses that rely on technology for thriving (Issa et al., 2010).

Conclusion

In conclusion, Australia offers a uniquely conducive environment for business operations, attributed to its political stability, favorable economic policies, and sociocultural dynamics. Government support for business initiatives, along with strong regulatory norms, provides confidence for potential investors, ensuring that Australia remains an attractive destination for establishing businesses and driving growth.

References

• David, J. (2018). PESTEL analysis of Australia. How and what. Retrieved from https://www.howandwhat.net/pestle-analysis-Australia
• Issa, T., Chang, V., & Issa, T. (2010). Sustainable business strategies and PESTEL framework. GSTF International Journal on Computing, 1(1), 73-80.
• Sophia, S. (2015). Australian Journal of Basic and Applied Sciences, 9(36).
• Ferrier, E. J. (2017). Business Strategies and Cultural Implications for Australian companies entering the Japanese Market: A qualitative study on the wine sector (Bachelor's thesis, Università Ca'Foscari Venezia).
• Kremer, P. D., & Symmons, M. A. (2015). Mass timber construction as an alternative to concrete and steel in the Australia building industry: a PESTEL evaluation of the potential. International Wood Products Journal, 6(3).