The majority of nations in the world are considered under-developed. In fact, out of 195 countries in the world, only 80 are classified as developed countries. The modern state of Australia was founded in 1788 by British settlers. For much of the country’s history it has been mostly disregarded as an economic backwater. But what about today? Is Australia a developed nation? In fact, definitely yes, and we’ll explain why…
1. Australia Has A Large Economy
A first reason why Australia is a developed country is because it has a large economy.
A nation’s economy is measured by its GDP – gross domestic product. This is basically the total value of all the goods and services a country produces. Developed nations have high GDPs, because their economies can produce high value products and services.
Australia has a GDP of 1.55 trillion USD. This makes it the 14th largest economy in the world. For a country with a population of just over 25 million, this means that the Australian economy is focused heavily on high value outputs. Australia has many successful businesses that ensure the country has a large economy. The bigger a nation’s economy, the more revenue the government can raise through taxation. This further helps a nation to become developed, as governments have the funds to spend on things like public services and infrastructure.
The fact that Australia has a large economy means it is a developed nation.
2. Australians Are Rich By Global Standards
A second reason why Australia is a developed nation is because Australians are wealthy by global standards.
Australia has a per capita income of 55,660 USD. This is essentially the average amount an Australian earns. Australia has the ninth highest per capita income in the world. This means that, generally, Australians are among the wealthiest people in the world. This is one factor in why Australia is a developed nation.
People in Australia generally live good quality lives. Australians can afford to have their basic needs met, including housing, food, education and healthcare. Most Australians also have some income left over to spend on things they enjoy. The high standard of living in Australia further adds to why the country is developed.
As we’ve said, Australia has a wide range of successful businesses. This means there are many good jobs for people to take. The government in Australia effectively taxes people, meaning it has the income to further develop the country.
3. Australia Has Good Infrastructure
A third reason why Australia is a developed country is because it has good infrastructure.
A key marker of a developed nation is the quality of the infrastructure a country has. It’s also that the nation has good infrastructure throughout, including in rural and remote areas. infrastructure is the physical structures that help a nation function. This includes roads, railways, airports, utilities and tele-communication networks. Australia has world class infrastructure, and this is a big reason why it is a developed nation.
As we’ve said, the Australian government is able to effectively raise revenue through taxation on economic activities. This means there is money to spend on constructing, updating and maintaining infrastructure throughout Australia. As a result – people, goods and information can move easily around Australia. This provides an economic boost, and also ensures that nation is considered developed.
Australia is a massive nation. The fact that the main population centers, as well as many smaller communities, are linked together by quality infrastructure, is one reason why Australia is a developed nation.
4. Australia Has An Accountable Political System
One reason why Australia is a developed country is because of its accountable political systems.
Politics and development go hand-in-hand. Not every developed nation is a full democracy, however, all developed nations have a degree of accountability in their political systems. This means there are checks on power, divisions of responsibility and politicians generally work in the interests of the people, not themselves. The populations views are also taken into account, and there are mechanisms in-place to remove ineffective or corrupt political leaders.
Australia is a democratic nation. There are regular free and fair elections and Australians get to choose their political leaders. Australia has a fully accountable political system and this has helped in the nation’s development. Accountable political systems allow for sound pollical and economic choices to be made, which helps development. They also help attract investment, widen economic opportunities and decrease inequality. All of these factors in Australia have ensured the country became developed.
5. There Is Good Education In Australia
A further reason why Australia is a developed country is because it has a good education system.
Another marker of a developed nation is that all children and young people can access quality education. Developing countries often lack the revenue needed to run good schools. This means parents must often pay. Those that cannot afford mean their children go without an education. In rural and remote areas of developing countries, access to school is also often limited.
Across Australia almost every child goes to school. From ages six to 16, there is free education in Australia. This means the country has an educated population, and this is a direct reason why the country is developed.
Australia has some of the best universities in the world. Over 50% of Australians have degrees. This allows them to take good jobs in the country’s advanced economy. For a country to be developed, it needs a workforce that is educated and has knowledge of technological systems and processes. Australia’s education system provides this, and it’s a key reason why it is a developed nation.
6. Australians Have Access To Quality Healthcare
Another reason why Australia is a developed country is because people can access quality healthcare.
As with education, developing countries lack the funds needed to run quality healthcare systems throughout their nations. This means many people must go without the medical assistance they need. The fact that many people in poorer countries are forced to go without healthcare hurts their economies. This is because more people must become economically unproductive when they leave the workforce due to ill-health, or to look after a sick relative.
Australia’s healthcare system is ranked 11th in the world. Across the country, Australians can access good quality healthcare when they need. Healthcare in Australia is subsidised by the state, meaning that even poorer people are not forced to go without.
The quality medical care that all Australians can receive is actually a key reason why the country has been able to become developed.
7. Australia Is Rich In Natural Resources
A final reason why Australia is a developed country is because it is rich in natural resources.
Australia has enormous deposits of iron ore, lithium, gold, lead, diamonds, uranium, and zinc. Minerals such as these are vital to the global economy. Australia brings in significant revenue by selling its natural resources abroad. The country’s mineral deposits also mean it has the resources it needs to power its own economy.
The extensive deposits of natural resources in Australia have allowed the country to develop. This is because it has made Australian industry more efficient – as it has many of the resources it needs and does not need to import them. It has also generated enormous wealth in Australia, which has given the government the revenue needed to develop the nation.
Natural resources only make up around 5% of the Australian economy. The country has managed avoid many of the economic traps resource rich countries fall into. Australia has managed to use its mineral wealth to develop a dynamic and diversified economy. This has resulted in the country becoming developed.