As of June 2023 in the state of South Australia, about 6.8 percent of the population was between 25 and 29 years old. In comparison, just 2.6 percent of the population was over the age of 85.

The statistic depicts Australia's gross domestic product (GDP) from 1987 to 2024, with projections up until 2030. In 2024, GDP in Australia amounted to about 1.8 trillion US dollars. See global GDP for a global comparison. Australia’s economy and population Australia’s gross domestic product has been growing steadily, and all in all, Australia and its economic key factors show a well-set country. Australia is among the countries with the largest gross domestic product / GDP worldwide, and thus one of the largest economies. It was one of the few countries not severely stricken by the 2008 financial crisis; its unemployment rate, inflation rate and trade balance, for example, were hardly affected at all. In fact, the trade balance of Australia – a country’s exports minus its imports – has been higher than ever since 2010, with a slight dip in 2012. Australia mainly exports wine and agricultural products to countries like China, Japan or South Korea. One of Australia’s largest industries is tourism, which contributes a significant share to its gross domestic product. Almost half of approximately 23 million Australian residents are employed nowadays, life expectancy is increasing, and the fertility rate (the number of children born per woman) has been quite stable. A look at the distribution of the world population by continent shows that Australia is ranked last in terms of population and population density. Most of Australia's population lives at the coast in metropolitan areas, since parts of the continent are uninhabitable. Unsurprisingly, Australia is known as a country with very high living standards, four of its biggest cities – Melbourne, Adelaide, Sydney and Perth – are among the most livable cities worldwide.

The University and Other Higher Education industry is grappling with the post-pandemic landscape. The COVID-19 outbreak significantly shifted the industry's demand and delivery methods. Social distancing requirements and operational constraints caused most universities to pivot online. Remote learning has remained embedded into teaching post-pandemic, providing convenience for students and profitability benefits for universities. A heightened focus on research during the pandemic offset revenue lost from declines in tuition fees. This trend has been slowing and is under additional threat from a US Government that appears intent on reducing its funding for foreign-based research, to the detriment of Australian institutions. The industry's labour market has been volatile as the pandemic pushed universities to increasingly casualise their workforces. Controversies over underpayment have led to reputational damage and strikes among major Australian universities. Melbourne University's enforceable agreement with the Fair Work Ombudsman to pay more than $72.0 million to over 25,000 staff highlights the magnitude of these disputes. Economic and demographic factors have aided the industry's post-pandemic recovery despite these pressures. A depreciating Australian dollar has benefited returning international students, while growth in the population of people aged 18 to 25 has bolstered domestic enrolments. Lower secondary school retention rates, slipping during the pandemic, are dampening this growth. Overall, revenue is expected to drop at an annualised 1.9% to an estimated $38.8 billion over the five years through 2024-25. This trend includes a 0.6% drop in revenue anticipated for 2024-25. The outlook for the industry is promising, driven by changing labour market conditions and demographic trends. Stricter visa requirements to control migration will pose challenges. However, the industry will face these constrictions by constructing new student accommodation facilities, allowing institutions to enrol international students beyond their designated cap. The consolidation of the University of Adelaide and the University of South Australia into Adelaide University in 2026 will intensify competition for enrolments, particularly from international students, given its ambitious ranking goals. These factors mean revenue is forecast to climb at an annualised 2.1% to $43.1 billion through the end of 2029-30.

Australia's café and restaurant scene continues to thrive, with New South Wales leading the way with over 19,225 establishments in operation at the end of the 2024 financial year. The second-leading state in terms of the number of cafés and restaurants was Victoria. As Australia's two largest states in terms of population, the concentration of food service establishments in New South Wales and Victoria mirrors Australia's population distribution, reflecting the urban-centric nature of the country's café and restaurant landscape. Gastronomy: a key economic sector In recent years, the number of cafés and restaurants throughout the country has shown relatively consistent growth, exceeding 55,700 in the 2024 financial year, up from approximately 41,570 in 2017. Australia's cafés, restaurants, and takeaway food services turnover experienced steady annual increases for many years up until the start of the COVID-19 pandemic. Nevertheless, since 2021, the industry's revenue has been on the recovery, hitting a record of over 65 billion Australian dollars in 2024. Additionally, food services represent a key source of gross value added to the tourism industry. An added boost from coffee Coffee plays an important role in the Australian food service sector, with the beverage topping the list of regularly consumed drinks among Australians in a 2024 survey. Several international chains like McCafé operate alongside popular domestic coffee franchises, including The Coffee Club, in the country. Alongside this, the country's annual domestic coffee consumption remains robust, consistently exceeding two million sixty-kilogram bags in recent years, underscoring the enduring nature of Australia's coffee culture. Nonetheless, recent cost-of-living pressures have led to a shift in consumer behavior, with more Australians opting to brew their coffee at home.

In 2024, Sydney had the highest price per square meter of land across major cities in Australia. Lot buyers expected to pay a premium of ***** Australian dollars per square meter in the capital of New South Wales. Conversely, lot buyers in Adelaide expected to spend around *** Australian dollars per square meter of land. Prices through the roof Over the past decade, the surge in land and housing costs has been attributed to rapid population growth, driving up median prices for property and land, particularly in cities. In Sydney, the per square meter price of land has almost tripled since 2010, while the number of new property listings has declined over the years. A shortage of residential land available to build on has exacerbated the housing affordability crisis in Australia. Will lending rates continue to climb? The homeownership dream is out of reach for the average Australian without a housing loan. Nevertheless, Australia's high mortgage interest rates for both owner-occupiers and investors have impacted current and aspiring mortgage holders, with the value of household lending trending downwards over the past two years. While rates remained high in the first half of 2024, they likely reached their peak, as shown by the gradual plateau in the second half of the year. This stabilization should, in turn, accelerate buying, selling, and lending activities.