THE SIS DIFFERENCE

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Belangrijkste industrieën

Oceania’s countries are all surrounded by water, making them an investment haven primarily for tourist-related businesses and a good region to conduct Oceania Market research.

Its biggest industry is tourism, which is due to the high rate of labor and service in the continent. To meet the influx of tourists, many businesses hire migrant workers from neighboring countries, such as India, China, the Filippijnen, and Vietnam. The projected annual revenue for this industry alone can reach up to hundreds of billions of dollars.

Oceania is also a top producer of specific minerals. New Zealand produces gold, silver, coal, iron ore, and limestone. On the other hand, Australia produces gold and iron ore, with other minerals like diamonds, uranium, nickel, and zinc.

New Zealand is also popular for its dairy products, being the home of a few of the largest milk manufacturers in the world. It is estimated that these milk farms raise $19 billion annually for the economy.

Other relevant industries are education, financial sectors, agriculture, fishing, and manufacturing.

Trends and Opportunities

Here are some trends and business opportunities expected with Oceania’s market research:

• Population growth: Australia’s continuous population growth is due to immigration. It assures that the demand for labor for the continuous growth and expansion of business is met. Note also that Oceania is composed mainly of developing nations with high fertility rates. Unlike Australia, these smaller countries have a natural increase. New Zealand partnered up with these nations and invites qualified Samoans to be residents.
• Non-Cessation of Tourism Industry: Oceania relies heavily on the tourism industry, consequently influencing other sectors of the market, such as lodging, food, recreational, transportation, manufacturing, and finance. Exotic destination, like Fiji, continues to attract high-baller guests, ensuring the flow of money in the country.
• Dairy Farms: New Zealand is the home of the largest milk processor in the world. Fonterra accounts for 90% of milk farms in New Zealand, ensuring its leading position in the market.
• Workplace Flexibility: The Australian government pushed for better workplace flexibility, allowing employees better control of their working hours. This was accelerated during the pandemic as many small business owners and corporations granted flexible working arrangements to their employees.
• Cyber Security: As many businesses perform flexible work schedules, it allows employees to work using their digital devices. Since sensitive data and information are included, businesses employ the expertise of cybersecurity professionals. The cybersecurity industry has since experienced growth from the surge of demand.

Strengths in the Oceania Market

Oceania has a strong investment appeal because of the following:

• Australia and New Zealand are some of the most developed countries in the world.
• Special migration agreement between Australia and New Zealand, which allows the citizens of each country to travel, live, and work freely in each country;
• New Zealand provides automatic citizenship to residents of the Cook Islands, Niue, and Tokelau. The following islands are not considered sovereign nations and therefore fall under the territory of New Zealand.
• New Zealand also provides special arrangements with other Pacific nations to allow 11,000 Samoans each year to become permanent residents if they meet the criteria. The country offers temporary work-related visas to people who failed to meet the requirements.
• Australia is the 12th largest economy, solidified by a $1.6 trillion GDP, which is equivalent to 1.7% of the world’s economy.
• Australia has a mixed economy, which helps diversify potential losses.
• Oceania has strong procurement and infrastructure projects and practices.

About Market Research in Oceania

It is a sound decision for businesses with a long-term goal of penetrating both the Asia and Pacific markets to establish in Oceania. Each country in the continent has varied business requirements and limitations. Australia has straightforward processes, which can make it easy. This goes the same with New Zealand.

With the proper market research, businesses will be able to determine what factors to consider, from government compliance to raw resources for their businesses.