Telecommunications in Australia

UW-Whitewater |

International Marketing Research Project |

Australia |

|

Rachel Seitz, David Marks, Brian Madson and Cameron Krahn |

3/16/2011 |

|

Overview of Australia

Country profile data

Australia is a very large market with a population of over 21 million, and a growth rate of 2% annually. 88% of the population is located in urban areas, Sydney being the largest with a population around 4.4 million. Other major metropolitan areas include, Melbourne (3.9 million), Brisbane (1.9 million), Perth (1.6 million), Adelaide (1.2 million) and Tweed Heads (.55 million). English is the most commonly used language however other languages are present especially in the Aborigine communities. Australia is the world’s smallest continent but 6th largest country, and is made up of 6 different states and two territories.

Australia’s economy is dominated by services, 75% of the labor force is employed by service occupations, and is abundant in natural resources. The Australian GDP is the 18th largest in the world at an estimated $1.2 trillion, with an estimated 3.3% real growth rate. The GDP per capita is $41,300 17th largest in the world, and the Australian dollar is worth 1.115 US Dollars as of 3/14/2011.

Provide an overview of current business environment 

The stability of the Australian economy has shown its self from 17 years of growth, and only one quarter without due to an economic stimulus plan worth over 6% of the Australian GDP. The Global Financial Crisis caused Australian banks to cut interest rates to historic lows; however Australian banks have rebounded after the one quarter of negative growth. The United States has become the largest economic partner of Australia, as its third leading trading partner and largest source of international investment.

The distance of Australia and relatively low population in relation to its land mass has always served as a challenge for Australian firms. Australia’s location while a challenge...