Australia is the world’s sixth largest country and is spread across 7.6 million square kilometres. Australia boasts of a reasonably affluent, diverse and cosmopolitan population of more than 22 million people. Canberra is the capital city of Australia. Various other important cities like Sydney, Melbourne and Perth dot the Australian map. Australia is a member of G7 group of nations and its standard of living is considered to be amongst the best in the world.

Australia provides huge financial opportunities to its residents. The estimated Gross Domestic Product (“GDP”) of the country stood at US$1.22 trillion in 2010 and the per capita income of the people was estimated to be US$41,300. The country made a progressive growth of 3.3% in 2010 even though the entire world economy faced severe crisis due to the financial downturn. The service sector contributes 72% of Australia’s GDP. The agricultural and mining sectors together contribute 8% of GDP. These two sectors also constitute 52% of Australia’s exports.
 
The Australian economy was previously highly regulated and controlled. However, since 1980, various economic reforms have been implemented which have shaped the country into an open, internationally competitive and export oriented economy.
 
The reforms have helped an export led mining boom and have further strengthened the Australian currency (“Australian Dollar”). Various credit rating agencies have given an AAA rating to the Australian economy to reassure its stable nature.
 
The political situation of Australia is highly stable and safe. The Commonwealth of Australia is a federal constitutional monarchy under a parliamentary democracy which was formed in 1901 as a result of an agreement between the six self-governing British colonies. The terms are embodied in the Australian Constitution. The Australian Government follows federal structure and separation of powers between the executive, legislature and judiciary.

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