Australia

= Business in Australia =

When comparing Australia to other countries in terms of business and economics it is most similar to that of practices in the United States. The English language is predominantly spoken in both countries as well as communication and etiquette practices are near identical. The Australian economy combined with diverse natural resources such as coal, copper, and iron ore combined with a GDP of close to $900 billion (USD), 18th in the world, makes the country very appealing to investors and businesses around the world.

When doing business in Australia, the average American businessman, or woman, should be able to handle themselves just as they would in America. This includes the basic business practices such as wearing a dark business suit, shaking hands, making eye contact when engaging someone, and modesty. However, there are a few minute differences that may set yourself apart from your competition. For example, when men are traveling alone they should sit in the front seat of a taxi, and it should be known that Australians value a person’s work, they are not impressed with one’s status, title, or claimed accomplishments.

It should be noted that when doing business in Australia, the default currency is the Australian dollar (AUD), not to be confused with the US Dollar (USD). The exchange rate is nearly the same, but the USD is worth 1.02 AUD.

Also, Australia is 15 hours ahead from New York City, or the Eastern Time Zone. This is extremely important to know when conducting business from the United States. It also must be noted that they are also one business day ahead of the US. See attached map to view the 5 different time zones in Australia.

One more little tip: People from Australia are very friendly and open, however the “G’day Mate” phrase, the informal “hello,” has been extremely overused by tourists. Try to avoid using the phrase and keep to the normal acknowledgements.

Sources

[]__  (Taylor, 2008)   __ [] (2/14/2011) [] Images: []