High Disposable Income
Australians have high disposable income, making them attractive customers for businesses. According to the Australian Bureau of Statistics, Australia’s average equivalised disposable household income was $1,124 per week in 2019-20. In comparison, Australia’s average household net-adjusted disposable income per capita is USD 37,433 a year, higher than the OECD average of USD 30,490 a year. The population’s purchasing power allows for greater spending on quality products and services. Exporting your products to Australia gives you access to a consumer base that values premium offerings.
Stable Economy
Australia is known for its stable and resilient economy. The country has a strong infrastructure, well-developed logistics networks, and a favourable business environment. Also, Australia is a member of several trade organisations such as APEC, CPTPP, G20, OECD and WTO and is considered a developed/advanced and high-income economy. According to the Australian Bureau of Statistics, the Australian economy rose 0.5% in seasonally adjusted chain volume measures. By expanding to Australia, you can benefit from a stable economy that supports business growth and innovation.
Cultural Alignment
Australia shares cultural similarities with many Western countries, making it easier for international businesses to adapt and market their products. Australians appreciate brands that align with their values and preferences. By exporting your products to Australia, you can connect with a culturally aligned audience and build brand loyalty.