High-Tech Firms Go
‘Down Under’
‘Down Under’
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li Lilly, GlaxoSmithKline, IBM and EDS built their fortunes by delivering innovative discoveries to the world of high technology.
In 2005, these companies are also turning two countries in the land down under the equator into high-tech juggernauts of the East.
If officials in Australia and New Zealand have their way, these two nations of Oceania will soon be known as much for their digital technologies and pharmaceutical breakthroughs as they are for their kangaroos and kiwi.
In fact, a recent study found that Australia is the world's second most competitive location for information and communication technology research and development. The Economist Intelligence Unit found that Australia ranked second behind Singapore and ahead of Ireland, the United Kingdom, China, India, the United States and Japan.
The EIU study compared the eight countries using 150 quantitative and qualitative indicators divided into five areas relevant to R&D operations of ICT companies: costs, human resources, taxes, ICT and R&D infrastructure, and the overall business environment.
The study noted that Australia's costs are competitive against the other developed countries in the study, and it also has better human resources, ICT R&D infrastructure and operating environment than its Asia-Pacific competitors India and China. While India and China have some cost advantages, the study noted that they rank at the bottom in infrastructure and environment.
The study found that a company conducting a 10-person ICT R&D operation in Australia could function on 50 percent of what it would cost to run the same operation in the U.S. The EIU report also found much higher quality labor and greater access to skilled labor in Australia than in Singapore.
The World Competitiveness Yearbook found that Australia had the most resilient economy in the world in 2003, and last year KPMG ranked Australia as having one of the lowest costs of doing business in the industrialized world.
Such rankings jibe well with the Globalization Index issued in April 2005 by A.T. Kearney and Foreign Policy, which found that Australia ranked 13th and New Zealand 11th in the world when it comes to economic, person-to-person, political, and technological integration with the rest of the world.
In 2005, these companies are also turning two countries in the land down under the equator into high-tech juggernauts of the East.
If officials in Australia and New Zealand have their way, these two nations of Oceania will soon be known as much for their digital technologies and pharmaceutical breakthroughs as they are for their kangaroos and kiwi.
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| Texas-based outsourcing giant EDC plans to add 360 jobs to its payroll at EDC New Zealand in the next three years. |
In fact, a recent study found that Australia is the world's second most competitive location for information and communication technology research and development. The Economist Intelligence Unit found that Australia ranked second behind Singapore and ahead of Ireland, the United Kingdom, China, India, the United States and Japan.
The EIU study compared the eight countries using 150 quantitative and qualitative indicators divided into five areas relevant to R&D operations of ICT companies: costs, human resources, taxes, ICT and R&D infrastructure, and the overall business environment.
The study noted that Australia's costs are competitive against the other developed countries in the study, and it also has better human resources, ICT R&D infrastructure and operating environment than its Asia-Pacific competitors India and China. While India and China have some cost advantages, the study noted that they rank at the bottom in infrastructure and environment.
The study found that a company conducting a 10-person ICT R&D operation in Australia could function on 50 percent of what it would cost to run the same operation in the U.S. The EIU report also found much higher quality labor and greater access to skilled labor in Australia than in Singapore.
The World Competitiveness Yearbook found that Australia had the most resilient economy in the world in 2003, and last year KPMG ranked Australia as having one of the lowest costs of doing business in the industrialized world.
Such rankings jibe well with the Globalization Index issued in April 2005 by A.T. Kearney and Foreign Policy, which found that Australia ranked 13th and New Zealand 11th in the world when it comes to economic, person-to-person, political, and technological integration with the rest of the world.
