Australian Businesses Look Overseas After 2 Decades of Falling Competitiveness

Australians’ high quality of life is at risk if the country fails to address its productivity issues.

Australian dollars in Sydney, on Jan. 15, 2016. AAP Image/Joel Carrett

Australia’s global competitiveness is declining as more businesses struggle to thrive domestically, leading them to explore opportunities abroad.

A new report by the Business Council of Australia highlights current trends, including stagnating productivity growth and mounting pressure from international competitors, raising concerns about the nation’s economic future.