Australia should be one of the world’s best places to invest, innovate, grow a business and create jobs.
Today, Australia ranks 21st among 42 countries for global investment competitiveness. Our ambition is to reach the Top 10 by strengthening the foundations that support investment, productivity and long-term prosperity.
This is not about a ranking for its own sake. Investment builds homes and infrastructure, supports innovation, boosts wages and expands the economic base that funds the services Australians rely on.
BCA analysis shows that improving Australia’s Global Investment Competitiveness Index ranking into the Top 10 globally could increase foreign direct investment by 39 to 55 per cent. That is equivalent to an uplift of $560 to $790 billion.
With this objective in mind, the BCA developed a National Roadmap for Making Australia a Top 10 Investment Destination – setting out a clear ambition for Australia and the measures needed to track our progress.
At the centre of the roadmap are the BCA’s Big Six Questions:
- How do we deliver the health and care services Australians need?
Helping Australians live healthier lives while strengthening sustainable care services. - How do we increase productivity and raise living standards for all Australians?
Boosting productivity, participation and global engagement to lift investment, wages and living standards. - How do we best support Australia’s future growth industries?
Making Australia a global leader in AI and emerging technologies. - How do we tackle the housing and infrastructure crisis?
Building the homes and infrastructure needed for a growing economy. - How do we deliver affordable and reliable energy and achieve net zero by 2050?
Creating the certainty to deliver affordable, reliable and lower emissions energy. - How do we develop a skilled workforce for the future?
Building the workforce and innovation capability for the future.
To track our performance as a country as we endeavour to address these questions, the BCA has developed 18 key performance indicators (KPIs) for the nation.
What gets measured gets done, and these KPIs provide an annual measure for our progress as we work towards becoming a Top 10 country and lifting living standards for all Australians.