Long celebrated as a tourist destination, Australia is maturing into a business hub for the Asia-Pacific region. The country’s geographic location and streamlined regulations make it a strategic base for Western companies expanding into the East. As global power continues to shift towards Asia-Pacific, Australia is well-positioned to facilitate the transition.
Australia’s strengths as a regional business centre are not new but rather newly appreciated. Western investors are increasingly seeking alternatives to Asia-Pacific’s traditional business hubs, Hong Kong SAR and Singapore. Hong Kong SAR is gradually falling out of favour with investors made nervous by its fraught relationship with Mainland China. Singapore remains politically and economically stable, but its dubious honour as the world’s most expensive city is a perennial challenge for companies seeking to build a large regional hub.