Australia's average wealth is just 1.8 times our median wealth; by contrast the UK's is 2.2 times greater, while the US is second worst out of the top 50, at 6.7 times.
Australia has a much more laid-back culture than England. Australians are known for their mate ship and easy-going attitudes. There is a strong focus on enjoying life and having a good time. This doesn't mean that Australians don't work hard, but they definitely know how to enjoy their leisure time.
Australia is a highly developed country with a mixed economy. As of 2023, Australia was the 13th-largest national economy by nominal GDP (gross domestic product), the 19th-largest by PPP-adjusted GDP, and was the 20th-largest goods exporter and 24th-largest goods importer.
It is the sixth-largest national economy in the world measured by nominal gross domestic product (GDP), tenth-largest by purchasing power parity (PPP), and twenty second-highest by nominal GDP per capita, constituting 3.1% of nominal world GDP.
Depending on how you look at it, Australians have it pretty good. The average Australian now has a net worth of more than US$550,000. Collectively, Australian households have a staggering $14 trillion in wealth and the number is steadily growing.
In terms of natural resources, minerals, and land, Australia is a hugely wealthy country. Kangaroo country is also home to some of the world's most valuable industrial minerals, including diamonds, iron, gold, silver, lead, uranium, and zinc.
The median Australian adult finished 2021 with a net worth of $US273,900, making them richer than the comparable resident of any other country, according to Credit Suisse's annual global wealth report.
Australians are the richest people in the world, with a median wealth three times that of the average American, a new report has shown.
Australia scored highly in the United Nations' 2022 World Happiness Report, ranking as the 12th happiest country out of 156 countries – ahead of Canada (15th), the United States (16th) and the United Kingdom (17th).
As a study destination that has the second largest number of international students, the UK is much-preferred for its world-class teaching faculties and research facilities. Be it any discipline - business, design, or arts and science - the UK offers the best-in-class education to students worldwide.
Cost of living in London (United Kingdom) is 22% more expensive than in Sydney (Australia) How much money will you need in London? Find out with your own Salary Calculation.
The cost of living in Australia is, on average, 21% higher than the cost of living in the UK. And the average salary in Australia is 17.4% higher than this in the UK.
Sydney is — without a doubt — easier to live in because the wages are higher, especially in menial jobs. In contrast, Sydney doesn't compare to London's economic diversity. London is a genuine rival to New York City. It's a hub of media, finance, arts, entertainment, real estate, and law.
More on the wealthy states within Australia
The Australian Capital Territory (ACT) has the highest average income among Australian states and territories, due to its strong public administration and professional services sectors. New South Wales also has a high average income, higher than the rest of the states.
Australia has plentiful supplies of natural resources, including the second largest accessible reserves of iron ore in the world, the fifth largest reserves of coal and significant gas resources. For a long time, commodities have made up a sizeable share of our exports.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city. It's also predicted to reach the top 5 wealthiest cities in the world by 2040.
Australia and Canada have similar levels of GDP per capita (based on purchasing power parity, nominal GDP per capita was around US$ 7 000 for Australia and US$ 9 000 for Canada in 008). Since 1990, Australia's growth in real GDP per capita has been a little higher than Canada's.
In 2020 there were 1,093 road deaths in Australia (source: Department for Transport). This equates to 4.3 road deaths per 100,000 of population and compares to the UK average of 2.3 road deaths per 100,000 of population in 2020. Driving laws and regulations differ in each state/territory.
Why UK is better than USA/Canada/Australia? The UK is a global leader in research and education. UK has more universities than any other country. It has the top academic facilities and instructor, as well as the most up-to-date technology, equipment, and resources.
The country with the highest number of billionaires is, unsurprisingly, the US. The United States of America has 735 billionaires – same as last year, according to Forbes.
Norway is the country with the highest level of household debt based on OECD data followed by Denmark and the Netherlands.
A rich and diverse cultural history
Their diverse languages, philosophies and histories form the oldest surviving culture on Earth, one that stretches back millennia.