Australia is a very large country with a relatively small population – it is about the same size as the 48 States which make up the bulk of the USA but has a population half the size of that of California. Vast tracts of the country are virtually uninhabited (and many would say uninhabitable), making Australia one of the most urbanised countries in the world.
The lack of a domestic market of any real size, coupled with a comparative level of geographic isolation, means that Australian businesses increasingly recognise the need to look at international markets to ensure their own future prosperity as well as the future well-being of the country. Indeed, a criticism that has been levelled against Australian business organisations has been their slowness to take up the challenge of internationalisation (with the notable exception of the mining industry.)
Thus, Australia finds itself needing to become ever more international in its outlook both economically and politically. Their extremely successful economy is dependent upon trade with both the US and increasingly with key Asian countries such as China, Japan and India. Traditional British Commonwealth links have been declining in importance over several decades.
In short Australia is a small market with a highly educated, affluent population which realises the importance of international trade – they are waiting to do business with you!
Global Business culture is a leading training provider in the fields of cross-cultural communication and global virtual team working. We provide training to global corporations in live classroom-based formats, through webinars and also through our cultural awareness digital learning hub, Global Business Compass.
This World Business Culture profile is designed as an introduction to business culture in Australia only and a more detailed understanding needs a more in-depth exploration which we can provide through our training and consultancy services.