Australia’s financial sector has grown steadily at around 9% per year for the last 20 years and is rapidly becoming a financial centre of the Asia-Pacific region by building on strong foundations in investment management, real asset financing and securitisation.
The Treasury of the Australian Government affirms Australia’s financial services sector is the largest contributor to the national economy, contributing around AU$140 billion to the GDP over the past twelve months. Employing 450,000 people, the financial sector continues to be a core part of the economy and a pivotal sector in driving economic growth for Australia.
According to the Global Australia Strategy, sophisticated, deep and liquid capital markets make Australia one of the major centres of financial activity in Asia. The strength of the financial services sector is underpinned by a mandated retirement savings scheme, a highly skilled and multilingual workforce and advanced business infrastructure.
“Australia is rapidly becoming a major global technology and financial service hub. The Australian Government’s support for innovation, through initiatives like the Global Talent Visa Program, help us attract the best talent globally and bring them to Australia. This is vital for us to compete on the international stage while growing jobs and skills in Australia. Over time, this also plays a critical role in fostering the next generation of local start-ups.”
Anthony Eisen, CEO & Co-Founder of Afterpay
The Australian Government’s support for innovation, through initiatives like the Global Talent Visa Program, helps attract the best talent globally and brings them to Australia and the AOYE Group work hard on finding these talents. In 2020, AOYE established the Global Talent Visa Line, finding and bringing in rare talent to flourish and strengthen the Australian economy.
Sources
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