Australian Economy: Latest Trends

The Australian economy has been through some ups and downs in the last few years and  is always a topic of interest, particularly in the business market sector. The number of businesses that have become profitable in the last few years has grown in number, clearly showing that the economy of Australia is moving upwards. It used to be very different, prior to people realizing what a Beautiful place Australia is to live. Many people have come into the country, helping to develop profitable businesses that can benefit the citizens of Australia.

Australian Business Market

pie chart of West Australian market commodities

According to recent reports, going all the way back to 2015, both Sydney and Melbourne have seen a movement in a positive direction. Capital expenditure is actually decreasing, down 20%, which could be looked at as a negative for the economy’s growth. However, the sheer volume of businesses that have been developed, and new industries that have opened up, clearly show that there are positive changes on the way. This has not slowed the Australian economy at all, and it is, in fact, growing every day. There is one particular factor that has been a possible for the economy of Australia to really explode. This one factor has contributed to more cash available for Australians to spend with local businesses, allowing the economy to look better than ever.

Due to technological advances and modern entrepreneurship culture, more and more start-ups are popping up every day. Melbourne especially has become one of the major hubs of the start-up scene in Australia.

Australian Economy

The latest trends in this economy seem to show that it is doing well. One of the factors has to do with oil. People in Australia are enjoying the lowest prices in gas and diesel fuel in almost a decade, and this is allowing more money to be spent in the economy. The more money that is spent, the more that businesses will make, leading to economic growth. If this trend continues with oil prices remaining low, it will help the economy of Australia dramatically.

There are always external factors that will affect the economy, regardless of where you happen to live. In Australia, it is clear that more businesses are coming into the country, and with oil prices so low, the economy has nowhere to go but up. This is a good revelation for those that live in Australia, regardless of what city they happen to be in. It is a beautiful place to live, but more importantly, it is an economically strong location for people to raise their families.

Asian countries like China have especially taken a vested interest in investing in the Australian economy in the last few years. This is evident in the very high percentage of Chinese investors putting their money in Australian real estate. As a result, metropolitan cities like Melbourne, Sydney and Perth have become a hub for international investors. A consequence of this, however, is that prices are often too high for the locals who are wanting to buy a home close to the city to live in rather than an investment.