It is only recently that the Australian dollar has significantly outperformed UK sterling on the currency markets but why?
The last 10 years have seen a massive change in the economies of the UK and Australian which has impacted upon Australian dollars and the British pound. Within the last few years we have seen a rate of 0.4 Australian dollars to the pound increase to 0.6 Australian dollars to the pound. This is a 50% increase in the value of the Australian dollar against the UK pound which is a massive variation for currency markets.
The Australian economy
The Australian economy has moved out of recession quicker than the vast majority of countries around the world and is now seen as one of the stronger economic centres for the future. The change from a manufacturing economy to a services economy has proved very lucrative for Australian government and continues to attract the attention of more and more skilled overseas workers.
The UK economy
Over the last few years the UK economy has struggled due to high levels of government debt, difficult trading conditions and the worldwide economic downturn. Despite the fact that the UK economy has officially moved out of recession there are concerns that this recovery is fragile and could turn about-face if further worldwide financial difficulties were to occur.
Immigration
There is no doubt that Australia has benefited more than any other country in the world from an immigration policy which has brought in hundreds of thousands of skilled workers over the years. When you compare this to the UK immigration policy, which has also brought in skilled workers as well as relatively unskilled workers, perhaps you have one of the reasons why the Austrian economy is more prosperous than the UK economy at the moment.
Employment in Australia
The employment market in Australia is still very buoyant and while there have been some reductions of late on the quota of skilled workers allowed into the country there are still many opportunities for those looking for a new adventure. Many experts believe that the Australian economy is very well-positioned for the future and forecast significant growth in the short, medium and longer term in what has been an amazing turnaround for Australia.
The future
When you check out the rates for AUD in GBP it is difficult to imagine how much change we've seen over the last few years with the value of Australian dollars and British pound having changed dramatically. This has impacted upon the cost of living for UK expats moving to Australia and the currency risk which now need to be taken into consideration more than ever.
Conclusion
While the increase in the value of the Australian dollar on the currency markets has assisted the import market in Australia it has made exports more expensive. However, this is a by-product of a very prosperous Australian economy which continues to grow to this day, attracting large numbers of expats looking for a new homeland.
The last 10 years have seen a massive change in the economies of the UK and Australian which has impacted upon Australian dollars and the British pound. Within the last few years we have seen a rate of 0.4 Australian dollars to the pound increase to 0.6 Australian dollars to the pound. This is a 50% increase in the value of the Australian dollar against the UK pound which is a massive variation for currency markets.
The Australian economy
The Australian economy has moved out of recession quicker than the vast majority of countries around the world and is now seen as one of the stronger economic centres for the future. The change from a manufacturing economy to a services economy has proved very lucrative for Australian government and continues to attract the attention of more and more skilled overseas workers.
The UK economy
Over the last few years the UK economy has struggled due to high levels of government debt, difficult trading conditions and the worldwide economic downturn. Despite the fact that the UK economy has officially moved out of recession there are concerns that this recovery is fragile and could turn about-face if further worldwide financial difficulties were to occur.
Immigration
There is no doubt that Australia has benefited more than any other country in the world from an immigration policy which has brought in hundreds of thousands of skilled workers over the years. When you compare this to the UK immigration policy, which has also brought in skilled workers as well as relatively unskilled workers, perhaps you have one of the reasons why the Austrian economy is more prosperous than the UK economy at the moment.
Employment in Australia
The employment market in Australia is still very buoyant and while there have been some reductions of late on the quota of skilled workers allowed into the country there are still many opportunities for those looking for a new adventure. Many experts believe that the Australian economy is very well-positioned for the future and forecast significant growth in the short, medium and longer term in what has been an amazing turnaround for Australia.
The future
When you check out the rates for AUD in GBP it is difficult to imagine how much change we've seen over the last few years with the value of Australian dollars and British pound having changed dramatically. This has impacted upon the cost of living for UK expats moving to Australia and the currency risk which now need to be taken into consideration more than ever.
Conclusion
While the increase in the value of the Australian dollar on the currency markets has assisted the import market in Australia it has made exports more expensive. However, this is a by-product of a very prosperous Australian economy which continues to grow to this day, attracting large numbers of expats looking for a new homeland.
You need to check the AUD in GBP exchange rate if you are moving to Australia so you are aware of the rate between Australian dollars and British pound.
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