Introduction

Australia’s strong economy, skilled and multilingual workforce, competitive tax structure and stable political environment make it an ideal location for foreign Investment. The Australian market also enjoys the benefits of relatively low set-up costs, easy access to the Asia-Pacific region, a vibrant financial services sector and a time zone which accesses both the close of business in the United States and trading opening in Europe.

Prior to the onset of the global coronavirus (COVID-19) pandemic, Australia was among the fastest-growing economies in the Organisation for Economic Co-operation and Development (OECD). Compared to other OECD countries, Australia navigated the immediate health and economic impacts of COVID-19 well. Like other OECD countries, however, the short-term impacts of domestic and global stimulus during the COVID-19 pandemic years (as well as overseas factors such as the war in Ukraine and domestic factors such as COVID-19 related backlogs in the construction sector) have resulted in more significant inflationary pressures in Australia and a phase of stringent monetary policy tightening by the Reserve Bank of Australia.