Australia to Reign Supreme for Business Globally, Post COVID-19

Australia to Reign Supreme for Business Globally, Post COVID-19

Though only a small portion of economic growth from quantum computing can be hoped, Australia has a number of aspects which could prove economically powerful, post COVID-19. Because Quantum is Coming. Qubit.

Australia Could be the Most Preferred Business Destination After Coronavirus Pandemic, Says Phoenix Business Advisory

+  “Australia is an ideal place for blockchain and quantum computing, and its robust startup ecosystem has strong competencies in agtech, edtech, fintech, foodtech, and medtech. Ranked 5th in the world for global entrepreneurship, it contributed to over 4% of world research publications in 2017 despite having only 0.3% of the global population. Over 40% of the workforce has a tertiary qualification with 28% of the population born overseas. Cultural diversity makes is a thriving hub for businesses from all over the world. 3.2 million Australians speak an Asian language and 1.4 million speak a European language,” added Mr. M. P. Singh, CEO, Phoenix Business Advisory.

+  One country that still stands tall amidst the crisis is Australia with its stable economy and a diverse consumer market. It can be rightly said that Australia and a stable economy have become synonyms for each other in the last three decades. Australia has had the 28th consecutive year wherein it has registered growth in positive figures. The regulatory institutions along with their ability to respond to global challenges provide it a steady growth. Another important thing to note is the fact that it is the 14th largest economy characterised by low government debt. It is estimated that the growth rate of the average annual real GDP will be 2.7% over the next five years. This is the highest amongst the major economies of the world.

+  Phoenix Business Advisory provides a detailed understanding of the plethora of advantages for the business community in India in Australia. According to their recent study on business migration, 12,000 millionaires have migrated to Australia since 2018 compared to the USA which registered 10,000 and Canada at 4,000. Another important point to be considered is the fact that an average Australian has become significantly wealthier compared to an average US citizen. The total wealth in Australia has grown by 83% compared to a 20% growth in the US in the last decade. As many as 10,000 high-net-worth individuals, with a personal wealth of US$1m or more, migrated to Australia in 2017 – mostly from India, China, and the UK. One of the most striking aspects is the fact that Australia was ranked as the safest country in the world for women, according to a global review in 2018. This has a 92% correlation to growth in wealth.

Source:  PR Newswire.  Phoenix Business Advisory,  Australia Could be the Most Preferred Business Destination After Coronavirus Pandemic, Says Phoenix Business Advisory‚Ķ

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