20 Remember – when you contact a Member, please tell them you found them in the 2018 LSQ Member Directory Section 2: Overview – Queensland, Australia
2.1.5 Australian Health and Medical
Research and Biotechnology
In Shaping up: Trends and Statistics in Funding Health and
Medical Research, Research Australia identifies Australia as a
global leader in many areas of health and medical research.
Australia contributed significantly to the OECD’s medical
research publications despite having only 0.33 per cent of the
world’s population and ranked sixth in the world in terms of
citations per publication, as evidence of this research excellence.
Australia’s health care spending is similar to that of comparable
countries. However, Australians enjoy one of the longest life
expectancies in the world. The impact of Australia’s high quality
AU$135 billion health and medical research sector is reflected
not only in the high life expectancy of its citizens, but also by the
fact that Australia has seen a general reduction in death rates for
many major health problems including cardiovascular disease,
cancer, asthma, chronic obstructive pulmonary disease and
2.1.4 Geography and Population
Australia is the world’s 6th largest country covering 7,692,024
km2 and accounting for 5 per cent of the world’s land mass
(see Figure 3).
Australia is a key strategic location for businesses seeking
opportunities in the Asia-Pacific region. While traditionally,
Australia’s main trade partners lay within the European, U.K.
and North American markets, these markets are slowing, and
the continued development of trade relationships throughout
Asia, particularly with China and Japan, are now the country’s
top two-way trading partners. Australia is also ideally placed to
capitalise on growth in these and other countries in the region.
Another advantage of Australia’s geographical location is
described as a ‘time zone advantage’. Australia’s time zone
allows companies to benefit from ‘follow-the-sun’ or ‘pass-the-book’
operations which means that international organisations
can operate 24 hours a day (see figure 4).
Australia’s counter-seasonality to the northern hemisphere
also offers significant strategic advantages in a range of areas
including clinical trials, agri-business and food supply. This is
a key strategic advantage for the exportation of fresh produce
throughout the world.
Australia's 24.1 million people represents only 0.32 per cent of
the global population.
Australia’s highly skilled, ethnically diverse and competitive work
force is credited as being behind the country’s consistently high
productivity levels over the last 10-15 years. Australia is ranked
number one in the world for productivity based on GPD per
person employed in the 2017 Bloomberg Innovation Index.
Home to one of the most multilingual workforces in the Asia-
Pacific region, Australia offers a variety of workforce solutions
for multinational organisations, and accommodates multilingual
and multicultural sensitivities.
Figure 3: Australian land mass in comparison to the United States of
America, Europe and South-East Asia
United States Europe
South East Asia
Figure 4: World time zones