Australia's economy provides an impressive backdrop to Victoria's success
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In the past 15 years the national economy has grown strongly, with average annual GDP growth of 3.6 per cent in the decade to 2005-06.
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Victoria's economic success
| Victoria occupies only 3% of Australia’s total landmass, yet accounts for 25% of the nation’s economy. The State has enjoyed an average growth rate of 3.6% over the 10 years to 2005-06. With AAA credit ratings from both Standard and Poor’s and Moody’s Investor Services, Victoria has one of the strongest and most resilient economies in the world.
Offering an open economy with low barriers to entry, Victoria is one of the most supportive and efficient places in the world in which to start a new business, requiring just two days for regulatory procedures.
Business investment remains at an all-time high, meaning we offer an ideal strategic location for businesses wishing to access Australian and Asia-Pacific markets.
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| Key economic indicators at a glance
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| Sources: Australian Bureau of Statistics, Cat. 5220.0, 3101.0, 6202.0, 6401.0, 5368.0, 8401.0
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