Australian Economy

The number of Australians who boast a wealth of $100,000 or more is the highest in the world. The average wealth of Australia is $397,000, which is second behind Switzerland. In total, Australia is worth $6.4 trillion; thus, if Obama were president of Australia, the country would be broke in a bit over one year. Australia has a better credit rating than the United States. About 5.1 percent of Australia’s labour force are unemployed, which is one-fifth the rate of Greece.

About 54 percent of all coal mined in the country is exported to Asia. About 85 percent of Australia is powered by coal. Australia is the largest exporter of coal in the world.

Tourists spend $94.6 million each day looking around Australia. That represents 2.5 percent of the country’s GDP. Nearly 75 percent of Australia’s money from tourism is spent by Australians themselves. Nearly 600 people arrive from other countries each day for the purpose of touring Australia. Tourism employs 513,700 people in Australia. They’re paid out of a $35 billion pot, which is the amount spent annually by tourists.

John Kelly of Sydney hopes to encourage the Chinese to eat more kangaroo. Kelly represents the Kangaroo Industry of Australia, and his fellow members sold 2,920 tonnes of kangaroo meat in 2010 for a total value of $11.7 million. The European Union citizens are the biggest buyers of kangaroo meat. Kangaroos are more numerous than Australians.

Australia has the 12th biggest economy in the world. Australia holds the No. 3 spot in the Index of Economic Freedom. Melbourne is at the top spot as the most livable city in the world, according to the Economist magazine. Housing costs in the country are near the top as the most expensive in the world.

The most expensive dish in Australia is braised abalone with duck webbing feet. It sells at Silk’s Cantonese restaurant for $1,380 per kilogram in Leura, New South Wales. Mining heiress Angela Bennett just sold her Mosman Park riverside mansion for a cool $57.5 million. An unknown Australian paid $36 million for a 1962 Ferrari 250 GTO, making it the most expensive car in the world.