Australia is a country located within the continent of Australasia. Its neighbouring countries consist of Papua New Guinea, Indonesia and New Zealand. Australia is rated as having the twelfth largest economy in the world as of 2012.
Australia has a market economy and was ranked second in terms of average wealth in 2013; estimated at $6.4 trillion. It concentrates on exporting commodities over manufactured products, such as the mining and agricultural sectors, mainly to the East Asian market. Australia is also home to BHP Billiton, Commonwealth Bank and National Australia Bank –some of the world’s largest companies. It is ranked the 19th largest importer and exporter with exports estimated to be worth $260 billion in 2012.
With destinations such as the Gold Coast, Whitsunday Islands and the Great Barrier Reef, tourism plays an important part of Australia’s economy with the industry contributing an estimated $35 billion to the national economy per annum. Tourism-related industries within the country currently employ over 500,000 people.
Since 2010 the service sector (including property and business) has grown by 4.5%. Today, 75% of people work in this sector. This growth has allowed serviced apartments to become a well-established business throughout Australia, accommodating for all types of business travellers. Serviced apartments within the country are often conveniently placed near key business locations.
Population: 23 million
Currency: Australian Dollar ($) (AUD)
Dominant Religion: Christian
Time Zone: (UTC + 8 to + 10.5)
Main Exports: Agricultural products, Minerals, Natural gas
Internet Domain: .au
International Dial Code: +61