Australia  

The unemployment rate in Australia is low at 4% and Australian workers have access to extremely high levels of physical capital per worker, and inflation is low at 2% per year. Australia’s financial sector is strong with the lowest level of non-performing loans worldwide, and low lending and borrowing margins, indicating very high levels of banking competition and efficiency. Household expenditure and the domestic savings rate in Australia are both near global averages at 26% and 28%, respectively. Concerning the country’s terms of trade, Australia ranks 56th, with relatively low export revenues relative to the cost of goods imported. For a developed nation, Australia has a high concentration of raw material exports, placing this country 63rd on the international ranking for this measure. Additionally, there is a low level of foreign direct investment, recorded at only 5% of GDP.

In Australia, entrepreneurship is encouraged by requiring only two formal procedures to start a business; as a result, the country is ranked 13th in the world for the number of new businesses registered. Internet bandwidth, the number of secure servers, and the number of personal computers are high, with just over 60 personal computers for every 100 people. High-tech exports comprise roughly 15% of total exported goods, placing Australia in the top 25 countries, worldwide, for this variable, while the amount of ICT exports are lower, placing the country at 49th on this variable. Nonetheless, Australians are able to capitalise on intellectual property with a very high level of royalty receipts, and with R&D expenditure of 1.5% of GDP, Australia comes within the top 20, globally on this variable. In terms of value added within the service industry, Australia is also ranked within the top 20 of the international community.

Australian citizens enjoy unconstrained freedom to participate in political processes and have extremely high levels of civil liberty, such as associational rights and freedom of expression. Australia achieved a maximum score on democratic measures, indicating that it is a highly democratic society with significant checks and balances, preventing arbitrary policy changes. Australia also performs extremely well on executive competition variables, demonstrating free and fair elections, with high levels of competition among rival parties. The largest party gained less than 75% of seats in the legislature, suggesting open political competition. Australia’s judiciary is also extremely independent. There is also a comparatively high level of stability in the political regime, with the last change occurring more than 100 years ago.

Australia is ranked 30th for primary school enrolment, with 96% of school age children registered in educational institutions. Enrolment rates improve further at secondary level, pushing Australia to the number one rank on this variable. At tertiary level, enrolment drops slightly to a rate of 73%, but Australia remains within the top 20. There is near gender equality in Australian schools, with 97 girls to every 100 boys at primary and secondary level. The Australian labour force is impressively well educated, with an average of 5.5 years of secondary education and 4.7 years of tertiary education per worker, ranking Australia 32nd and 6th, respectively, on these variables. However, educational expenditure per student is relatively low for such a wealthy country, at $7,071.

Australia has a high number of medical professionals per capita with 25 doctors and nurses per 10,000 people. Availability of hospital beds is also above average, with four beds per 1,000 people. Life expectancy is extremely high at 73 years and only 3% of the Australian population is undernourished. Australia also has a very low infant mortality rate, with only five deaths per 1,000 births. Access to sanitation facilities in Australia is extremely high and 88% of respondents indicated satisfaction with the water quality.* Australia has a high level of health satisfaction, with 83% of people recording that they are satisfied with their state of wellbeing.* Though people are generally healthy, subjective measures of health are lower than might be expected. A fifth of respondents had medical problems, ranking Australia just outside the top 20 for this measure, and 24% had experienced pain the previous day, ranking the country 40th.* More particularly, only 62% of respondents report that they feel well rested, a poor rate ranking the country 82nd, internationally.*

Australia has a small number of security challenges related to refugees, internally displaced people, and social groups with a history of discrimination or other grievances. However, there are no problems related to human flight from dangerous conditions, insecurity arising from state-endorsed political violence or repression, and casualties due to civil wars. The homicide rate is very low with only 14 homicides per one million people, ranking Australia 18th, internationally. Only 14% of respondents in Australia have had personal or household property stolen and 65% of respondents reported feeling safe walking alone at night.* Assaults or muggings are very infrequent, with only 5% of respondents having been a victim in 2008.*

The legal and judicial system in Australia is very sound, scoring highly for the enforcement of the rule of law. Regulation supports open, competitive markets and the country is ranked eighth for this variable. The Australian civil service is very effective in carrying out the objectives set by political leaders and 88% of people have confidence in the military.* Australian citizens enjoy complete freedom of political participation. Just under half of respondents believed either local government or businesses are corrupt, ranking the country in the top 15, on both variables.* More than half of Australians have confidence in the judicial system, while two-thirds believe that elections are honest and fair.*

Australian citizens have unconstrained freedom to practise their religious beliefs, speak freely without fear of government censorship, and travel freely within and out of their own country. Further, 92% of people report feeling satisfied with their freedom of choice.* Australia’s tolerance towards ethnic minorities and immigrants is good, with approximately nine out of 10 people welcoming these groups into their neighbourhood, ranking the country in the top 10, internationally.

In Australia social trust is high, with 48% of individuals believing that other people can be trusted. Similarly, friendship is highly important to Australians and 96% of citizens believe they can rely on friends and family.* Australian citizens have the third highest rate for donating money and 10th highest rate for volunteering, globally.* Additionally, 65% of people reported that they helped a stranger.* Australians enjoy high levels of group membership: 45% are members of a religious organisation, 49% are members of a sports organisation, 32% are members of arts groups, and 15% are members of environmental groups.

* Data taken from the Gallup World Poll

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