According to Patrick’s proprietary model, the Australian economy is expected to experience robust growth between now and year 2050. The population is growing quickly and the island nation will benefit from accelerated growth in southeast Asia and the Pacific Rim. Australia also has lots of space so overcrowding isn’t an issue for the foreseeable future. The next few decades should be a great time to be down under!
Australia is one of the few countries that will experience accelerated economic growth while simultaneously enjoying a relatively low level of political volatility. The country’s relative “youth deficit” (see below) dampens social unrest and robust economic growth has the same effect. Of course, some years will be better than others, but the overall trend looks very strong for Australia.
Australia is a developed nation and it’s median age and life expectancy reflect that. The median age is 37 while the average citizen lives past 80. At the same time, between immigration and fertility, the population is expected to grow by 39% between 2010 and 2050. By contrast, the world as a whole will only grow by 34% during the same time period. Population growth is a primary driver of the robust economic growth forecast for Australia above.
Australia currently has a significant youth deficit but that is expected to moderate over the coming years, falling in line closer with global averages. Because of the advanced life expectancy, the country also has a lot of older retired citizens. Those citizens will strain public resources through entitlement programs which will moderate growth somewhat.
Patrick is an award-winning author and keynote speaker who can speak about demographic trends affecting Australia at conferences and business events in Sydney, Melbourne or other Australian destinations.
DISCLAIMER: Projected results are NOT guaranteed. The forecasts for Australia above were calculated based on projected population data obtained from the World Bank website. The economic forecast used this demographic data along with adjusters for net exports, relative age distribution and per capita income projections. The political volatility forecast used the same demographic data along with adjusters for youth population percentage, projected economic growth and public government debt level. Please see the model methodology for more details.
Patrick Schwerdtfeger maintains a video blog entitled “Strategic Business Insights” and adds new videos on a regular basis. Some of the videos are ‘macro’ covering topics like global business trends and geopolitical dynamics. Others are ‘micro’ covering communication skills and your mental mindset. Access them here:
All of the countries covered by the economic forecasting model are ranked below. They are each linked to the country’s respective page, so please feel free to explore other countries you might be interested in.
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