Australia suffered its steepest economic contraction in 2020; however, government support for welfare programs and wage subsidies, strong consumer demand, and public investment activity, boosted the economy to pre-pandemic levels in early 2021.
Yet, questions remain. How will Australia’s economy recover compared to the rest of Asia Pacific? Will hurdles in vaccination rollout delay tourism recovery? What can I expect from consumers in 2021?
Let FrontierView guide you through the important questions you have around your business’s recovery with our Australia coverage. Our expanded subscription offering provides you with the market expertise, research, and data that you need to help you outperform the competition, make critical decisions, and win in your most important markets.
According to our latest outlook, Australia’s economy is off to a strong start as one of the first Asia Pacific markets to recover. High government and consumer spending will support Australia’s growth recovery, and spending on vehicles and household equipment spiked as spending shifted away from travel. However, China has placed import restrictions on several key Australian exports, which will impact companies in almost every sector, including trade, tourism, education, and real estate. Review the critical drivers of this strengthening and tools to mitigate changing environments in our new Australia Market Review.
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