
Australia: A healthy Economy for Immigrants
Australia, the sixth largest country in the world, is said to be one of the strongest and stablest economies. Australia has a mixed economy, i.e., an economy that supports both free market and state enterprise.
Australia’s Economy
The World Bank has provided the following details about the economy of Australia:
- Gross Domestic Product (2015): 1.62 trillion USD
- GDP per capita: 64,500 USD
- Inflation (CPI): 1.0% The 2011 Credit Suisse Global Wealth Report showed that Australia has a median wealth of 222,000 US dollars while US has a median wealth of 50,000 US dollars. This means that the average person in Australia is earning more than four times of what a person earns on average in the US. The same report also mentioned that Australia’s wealth has quadrupled over the past decade.