In Australia, fun is a profitable business. Different forms of entertainment are huge in every country worldwide. The film industry is a great opportunity for investors. Entertainment gets a lot of consumers, and investors invite newer entertainment opportunities to their cities. The businesses raise the likelihood for development and success for new services and products in this area.
We explore the entertainment market in Australia and how it attracts foreign investment. Entertainment is also influenced by the ever-growing booming tourism sector and a growing permanent migration number. The industry of entertainment of Australia has a bright future. The future of this industry is a great contributor to the country’s commercial success. Australia represents a yearly expenditure of 40 billion Australian dollars on entertainment which is a great profit.
This makes Australia a foreign direct investment for prospective investors. For the past 26 years, the Australian economy has grown steadily and survived the 2008 financial crisis without experiencing serious economic impacts. The GDP growth in 2018 was 3.2% standing at 1432 billion Australian dollars and the highest in the world. The GDP growth makes the Australian economy the thirteenth biggest in the world.
The Australian economy is strengthened by mining, strong energy and agricultural sector, and others. Australia is investing in investment flows with high returns in business. According to an investment report done by UNCTAD’s world investment Report in 2019. Australia is ranked eighth worldwide in terms of FDI. The flows of FDI since 2018 has grown from 43% to a record high of 60 billion U.S. dollars in revenue.
Foreign Business Investors
Australia offers foreign investors individual economic stability, liberalism, and transparency in its system. The government in recent years made steps to change its framework by reducing regulations that have existed. The entertainment business is an enticing business sector for many investors looking to invest in Australia’s business terrain.
Australians enjoy entertainment and are heavy consumers. The country has an annual expenditure of 40 billion Australian dollars. The money converts to 26 trillion U.S. dollars on the joy, which is huge. Since the economic boom, popularity, and production of digital work. Today the entertainment has been important, and the scene has seen a growth of 2.9%. The 2.9% represents 36 billion Australian dollars since 2008.
Overall, Australia is considered a center of excellence in creating entertainment. The content includes animation, filmmaking, game design, and special effects.
