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Australia Shines as Place to be in Global Crisis

About AICT › News › Australia Shines as Place to be in Global Crisis

24 June, 2009

AUSTRALIA stands out as an island of calm amid the global economic storm, an international business confidence survey shows.

One in five international businesspeople cited Australia as the country best surviving the recession in a survey of 7500 people in more than 24 nations.

Australia placed first in the survey, ahead of China, with India and Singapore in equal third place. New Zealand also fared well, ranked ninth.

The survey, conducted in April, was aimed at gauging business sentiment and what impact the economic downturn has had on businesses globally.

Australian businesspeople appeared relatively unaffected, according to the poll conducted for Servcorp, a provider of virtual and serviced offices that operates in 61 nations.

"In my experience working with international businesses around the world, especially during the last six months, I've noticed how relatively unaffected (are) Australian businesses and... business persons' attitude by the economic downturn," Servcorp executive director Taine Moufarrige said.

"Over 71 per cent of Australian businesspeople believe we are the lucky country, and it's interesting to see that the rest of the world agrees."

Pessimistic media reports were the number one concern among Australian businesses, the survey found.

More than 25 per cent of Australian businesspeople also said they were worried about the way the government responded to the global financial crisis.

"I think the doom and gloom reports that Australians hear every day are harmful to Australian businesses and hold them back from seeing the opportunities that are present in the current economic climate," Mr Moufarrige said.

"This is a time when Australian business confidence needs to be supported and encouraged in the media and by the Australia government."

Top 10 recession-beaters

1st - Australia

2nd - China

3rd - India and Singapore (equal)

5th - Hong Kong

6th - Canada

7th - Japan and Qatar (equal)

9th - New Zealand

10th - Malaysia, Sweden and Vietnam (equal)

Source: Servcorp International Business Confidence Survey.


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