Australia: The (Future) Best Country In The World?

By: EW News Desk Team   Date: 9 June 2011

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EW News Desk Team

Always on the look out for the latest news to monitor the state of the world economy.

EconomyWatch, News Desk Team

 

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09 June 2011

According to a recent report by the Organisation for Economic Co-operation and Development (OECD), Australia was ranked as the best advanced economy in the world to live in.

The 2011 Your Better Life Index saw Australia attain extremely high scores in Housing, Life Satisfaction and the Environment.

The first two scores were not particularly surprisingly especially after another recent study showed that Australians were the most relaxed nationality in the world when it came to household mortgages.

"Whether for financial or cultural reasons, Australians are the most relaxed about being highly leveraged, with one in three comfortable borrowing more than 80 per cent of their home's value,” said Ellie Comerford, Chief Executive of Genworth Australia, a leading mortgage insurance provider.

EconomyWatch.com’s very own real-time consumer confidence index also listed Australians to be optimistic about the economy, with an average consumer confidence score of 694 for 2011.

The OECD is not the only organisation that has recognised Australia’s high quality of life. According to the UN’s latest Human Development Index, which grades countries based on education, healthcare and income, Australia was also ranked among the very top in the world – coming in second among developed countries behind Norway.

Australian cities also dominated the Economist Intelligence Unit’s list of the most liveable cities in the world, with four cities - namely Melbourne, Sydney, Perth and Adelaine – ranking in the top ten.

With a thriving economy that will only get better in the future, Australia looks set to become one of the best countries in the world to live or work in. A stable political environment coupled with a democratic, tolerant and generally harmonious society also paints a rosy picture for the current and future generations of Australians.

Related: Australia's Economy

Related: Australia's Economic Forecast

According to an article in the Economist, Australia has the potential to be a “model nation” if its citizens “take pride in their achievements and build on them.”

Yet despite the considerable economic and social success that Australia current enjoys, the same Economist article suggest that “many Australians do not seem to appreciate that they live in an unusually successful country.”

The article also seem to suggest that although Australians rank highly among surveys about satisfaction, survey results actually mask a growing discontent among the people.

 According to Rupert Denton, an Australian researcher at the Per Capita think tank, the irony of the results lie in the rhetoric of Australian politicians such as opposition leader Tony Abbott who “insisted that Australians are facing intensifying cost of living pressures” as well as the media who “bombarded us with the cost of living myth”.

come to australia

Credit: Australian Graphic Design Association, download the full PDF by clicking on this link

 

Is Australia Already The “Best” Country In The World? Or Is YOUR country better? Share Your Thoughts In Our Discussion Section Below. 

Australians may be enjoying life at the moment, but you can't say the same about Americans. Find out why it's Not A Good Time To Be An American on EconomyWatch.com


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