Jarred Cummans submits:
With major stock exchanges in the U.S. and Europe receiving significant coverage in the financial press, developed economies in Asia have generally flown under the radar. Australia, the well developed and well-diversified economy down under, is often overlooked by many investors despite an impressive track record. The Aussie stock market has posted gains of 7.5% annually over the past 110 years, making it the best performing stock exchange in the world. The resource rich country has a stable economy that is currently the 13th largest in the world.
Australia has grown at an average annual rate of 3.6% for the last 15 years, and boasts the 11th highest GDP per capita on the globe. Despite the heavy financial focus this economy carries, Australia stayed afloat during the financial crisis that struck many markets in recent years thanks to an abundance of mineral deposits and strong demand from Asia. Though Australia has a strong economy, the nation is currently faced with political uncertainty. Recent elections left hazy outlooks for the legislative landscape, as no single party received the required number of seats to form a government.