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The Australian Economy vs. Hong Kong Economy

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A short comparison between the economies of Australia and Hong Kong. Covers topics such as employment & unemployment, quality of life, environment sustainability and economic growth. Made for Year 11 Economics Class (February 2013).

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The Australian Economy vs. Hong Kong Economy

  1. 1. By: Dayna Flavin & Raquel Smith
  2. 2. RANK STATE/TERRITORY PERCENTAGE1 Tasmania 6.8%2 Queensland 5.9&3 South Australia 5.7%4 Victoria 5.6%5 New South Wales 4.8%6 Northern Territory 4.2%7 Western Australia 3.9%8 Australia Capital 3.6% Territory Unemployment Rate
  3. 3.  By January 2010, employment increased to 11,546,700. Unemployment increased to 657,800. Employed People
  4. 4.  Employment: Out of a work-eligible population of 3.65 million as of 2007, 3.46 million were full- time employees, 117,800 were unemployed and 75,500 under-employed Unemployment: In January 2013, Hong Kong’s Unemployment Rate enlarged to 3.40%, the Rate being 3.30% in December 2012. In 2007 it averaged at 4.1%, the fourth straight year of decline, having increased to 5.3% in 2009.
  5. 5.  The Gross Domestic Product (GDP) in Australia has expanded 0.50% in the third quarter of 2012 over the previous quarter. Historically, from 1959 to 2012, the Australian GDP growth rate average at 2.9% achieving an all time high of 4.5% in March, 1976 and an all time low of -2.0% in June 1974.
  6. 6.  The economy of Hong Kong is one of Asia’s most advanced economies and one of the post-war world’s fastest growing economy. Though the world’s most freest and competitive economy’s pace has reduced to 0.9% in growth compared to its 5% expansion in 2011.
  7. 7.  Australian quality of life is one of the highest qualities of life in the world. Australia’s economic and political advantages are complemented by its welcoming attitude and excellent quality of life. In 2009, Australia’s quality of life was ranked number 6 out of 57 key economies, higher than New Zealand, the USA and the UK.
  8. 8.  Hong Kong is the 3rd most liveable city in Asia. But among the world’s worst air quality The life expectancy of someone in Hong Kong is 82.12 years, while the infant mortality rate is 2.9 deaths to 1000 live births (with males at 3.07 deaths and females at 2.71 deaths). 93.5% of Hong Kong’s population aged 15 and over has attended school (with males at 96.9% and females at 89.6% as of 2002).
  9. 9.  Australia has a fine line between natural environment and man made land. Australia has high priority to protect the nature around Australia The Daintree Rainforest is one of the protected areas in Australia. Australia has many unique and amazing animals and plants.
  10. 10.  Hong Kong is the 3rd most liveable countries in Asia. But, the one of the most unclean air. The air quality is so unclean it doesn’t just affect plants and animals it also affects humans, in some cases, humans can get asthma because of the unclean air quality. Bronchial infections have also soared in the past couple of years.
  11. 11.  Health care: The aim of the national health care in Australia is to give universal health care to all Australian citizens. The major part of the national health care system is called ‘Medicare’. Medicare provides quality health care which is both affordable and accessible to all Australian citizens.
  12. 12.  Education is compulsory from age 5- 16 years old.  Government schools educate approximately 65% of Australian students, with about 34% in catholic and independent schools.  Public schools are free to attend schools while catholic and private schools pay an extra fee.Mitchel Building at the University ofAdelaide, South Australia, 3rd oldestuniversity in the country
  13. 13.  During 2011/12, public spending on education totalled at $68.7 billion. Government schools are free from nine years to 12 years (as of 2008/2009 school year) and have a curriculum advised by the Government. Aided schools are financially aided by the Government, though they are run by voluntary bodies. Some private schools receive monetary relief from the Government.
  14. 14.  The Hong Kong government operates hospitals to all citizens which generally make up most of the health care system, though people may also choose to visit a private hospital. Government-operated hospitals cost the government approximately 3% of Gross Domestic Product (GBP).

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