Australia has the best economic prospects in the developed world according to the International Monetary Fund World Economic Outlook. Maintaining stronger growth through the worst of the global financial crisis than any other advanced economy, business and consumer confidence quickly returned to pre-crisis levels. Australian labour markets remain buoyant and our banks are amongst the strongest in the world.
Stable and secure
Australia’s stable political system and government ensures an open and progressive legal and regulatory environment, providing business with a high degree of certainty. Regulation of Australian financial markets is viewed internationally as a model of best practice – both responsible and prudent. This confidence has encouraged a steady flow of foreign investment, boosted by a strong and robust intellectual property framework and business-friendly policies.
The continued internationalisation of the Brisbane economy, combined with exceptional local talent and a collaborative business culture, provides a strong and competitive environment for Brisbane’s economy to continue to outperform its neighbours.
The growing skills base of the population has allowed the emergence and expansion of knowledge-intensive and innovative industry clusters in Brisbane, such as clean technologies and information and communication technologies. Brisbane City Council is the largest municipal government in Australia and many multinationals have invested in Brisbane – attracted by the open, supportive, stable and cost-competitive business environment.