“Source: Australian Trade and Investment Commission”
Australians’ prowess in two key areas – innovation and skills – continue to underpin the country’s strong investment track record, according the latest edition of the Why Australia Benchmark Report 2019.
Published in April, the report highlights Australia’s world-class scientific and academic institutions, the country’s strong commitment to research and development (R&D), and the resourcefulness of Australia’s highly educated, multicultural and multilingual workforce.
Australia hits Top 10 rankings in key areas
The 2019 Benchmark Report highlights how Australia is currently outcompeting peer economies in critical metrics of competitiveness. In global innovation rankings, for example, the report places Australia third in terms of human capital and research, and fourth for information and communication technologies.
Drawing data from multiple sources, the report illuminates some of the root causes of Australia’s success. For example, Australia ranks third in the Human Development Index compiled by the United Nations Development Programme in its Human Development Report 2018. This ranking measures a country’s human, physical and educational wellbeing based on years of schooling, life expectancy and income.
Australia also scores eighth in the world for workforce diversity, which includes gender, ethnicity, religion and sexual orientation, according to World Economic Forum rankings.
Scientific research is also a source of economic strength. With just 0.3 percent of the world’s population, Australia contributed over four percent of world research publications in 2017. Today, the country ranks tenth, globally, in terms of the overall quality and quantity of its scientific publications.
Australia also scores eighth in the world for workforce diversity, which includes gender, ethnicity, religion and sexual orientation, according to World Economic Forum rankings.
Scientific research is also a source of economic strength. With just 0.3 percent of the world’s population, Australia contributed over four percent of world research publications in 2017. Today, the country ranks tenth, globally, in terms of the overall quality and quantity of its scientific publications.