In 2022, the wealthiest top one percent of Australians held *** percent of the national income. The bottom ** percent of Australians had **** percent of the national income.

The average for 2021 based on 1 countries was 22 percent. The highest value was in Tonga: 22 percent and the lowest value was in Tonga: 22 percent. The indicator is available from 1963 to 2023. Below is a chart for all countries where data are available.

Australia Percentage of Households: One Family: Other: Source of Income: Wages And Salaries data was reported at 71.700 % in 2020. This records an increase from the previous number of 68.600 % for 2018. Australia Percentage of Households: One Family: Other: Source of Income: Wages And Salaries data is updated yearly, averaging 72.150 % from Jun 2003 (Median) to 2020, with 10 observations. The data reached an all-time high of 79.500 % in 2003 and a record low of 68.600 % in 2018. Australia Percentage of Households: One Family: Other: Source of Income: Wages And Salaries data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.H040: Survey of Income and Housing: Percentage of Households: by Source of Income.

A multi-millionaire is defined as someone owning ** million U.S. dollars or more. It was forecasted that there would be almost ** thousand individuals in Australia defined as multi-millionaires by 2026. This is in line with the country’s growing economy over the years as well as the growing wealth inequality that was becoming a cause for concern in the island nation.

Distribution of the wealthy

As a rich country with plenty of natural resources and a high Human Development Index, Australia had always had a large number of high net-worth individuals or HNWIs. There were over *** thousand millionaires including a couple dozen of billionaires, with these figures expected to grow significantly over the next few years.

Income inequality

Despite the increase of wealth and economic growth, there was a concern at the level of poverty and homelessness due to the rising wealth inequality nationally. The number of homeless people living in Australia had only been increasing with more than a hundred thousand people currently without shelter. Furthermore, most of the wealth was being pushed from the country to the cities, affecting the livelihood of those living in the countryside or outback.

The Gross Domestic Product (GDP) in Australia was worth 1752.19 billion US dollars in 2024, according to official data from the World Bank. The GDP value of Australia represents 1.65 percent of the world economy. This dataset provides - Australia GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Using data from the 2001-2005 waves of the Household, Income and Labour Dynamics in Australia survey, and taking account of existing estimates of ability bias and social returns to schooling, I estimate the economic return to various levels of education. Raising high school attainment appears to yield the highest annual benefits, with per-year gains as high as 30 percent (depending on the adjustment for ability bias). Some forms of vocational training also appear to boost earnings, with significant gains from Certificate Level III/IV qualifications (for high school dropouts only), and from Diploma and Advanced Diploma qualifications. At the university level, Bachelor degrees and postgraduate qualifications are associated with significantly higher earnings, with each year of a Bachelor degree raising annual earnings by about 15 percent. For high school, slightly less than half the gains are due to increased productivity, with the rest due to higher levels of participation. For vocational training, about one-third of the gains are from productivity, and two-thirds from greater participation. For university, most of the gains are from productivity. I find some evidence that the productivity benefits of education are higher towards the top of the distribution, but the participation effects are higher towards the bottom of the conditional earnings distribution. NOTE: This paper uses confidentialised unit record file data from the Household, Income and Labour Dynamics in Australia (HILDA) survey. The HILDA Project was initiated and is funded by the Commonwealth Department of Family and Community Services (FaCS) and is managed by the Melbourne Institute of Applied Economic and Social Research (MIAESR). The findings and views reported in this paper, however, are those of the author and should not be attributed to either FaCS or the MIAESR. Since the data used in this paper are confidential, they cannot be shared with other researchers. Instructions on how to order the data are available at http://melbourneinstitute.com/hilda/data.html. The Stata do-file used to create the regression results is available from the author upon request. Parts of this paper were drawn from a report prepared for the Victorian Department of Education, who should not be assumed to agree with its contents. I am grateful to the editor (Russell Smyth) and an anonymous referee for valuable feedback on an earlier draft.

Between March 2024 and March 2025, wages in Australia declined by around 0.6 percent. Wage growth in recent years has been relatively low in comparison to previous years, in particular in December 2020, which only saw a wage growth of 1.3%. Inflation and CPI outstripping wages While wages have increased in Australia, they have still not matched the rate of inflation, which was sitting at 2.4 percent at the end of 2024, down from a high of 7.8 percent at the end of 2022. The high cost of goods has also put pressure on the public, with the Consumer Price Index standing at around 139.4 points, compared to a base year of 2011-12. Rent is on the rise As with many around the world, Australians are also feeling the costs of rent increases. The majority of people in Australia perceive that the cost of rent has risen significantly in their local area. This in turn has seen the government expenditure on rental assistance continue to be high, with around 4.7 billion Australian dollars spent to assist the Australian public in maintaining their housing needs.

In 2023, agriculture contributed around 2.57 percent to the GDP of Australia, 27.65 percent came from industry, and 63.57 percent from the services sector. The same year, the Australian inflation rate, another important key indicator for its economic situation, amounted to 2.82 percent. Why is the inflation rate important?Inflation is the steady increase in price levels for consumer goods and services during a certain timespan. The European Central Bank considers a steady inflation rate of two percent a year beneficial for a stable economy – otherwise a country risks economic hardship. In the worst case, a country can experience either hyperinflation (like Venezuela), which is the rapid increase of prices to a point of economic collapse, or deflation, which is the decrease of prices and devaluation of money that can also lead to economic collapse. Up and down under Australia’s inflation has been clawing itself out of a slump in 2016, when it unceremoniously dropped to 1.25 percent due to falling petrol costs and oil prices. The following year, it recovered instantaneously and soared back to just under two percent, and forecasts see it reaching 2.52 percent by 2021. Australians don’t seem too worried about this outlier, and rightly so, since Australia’s economy is still one of the biggest in the Asia-Pacific region and worldwide.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

The Gross Domestic Product per capita in Japan was last recorded at 37144.91 US dollars in 2024. The GDP per Capita in Japan is equivalent to 294 percent of the world's average. This dataset provides - Japan GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In June 2022, it was estimated that around 7.3 percent of Australians were aged between 25 and 29, and the same applied to people aged between 30 and 34. All in all, about 55 percent of Australia’s population was aged 35 years or older as of June 2022. At the same time, the age distribution of the country also shows that the share of children under 14 years old was still higher than that of people over 65 years old. A breakdown of Australia’s population growth Australia is the sixth-largest country in the world, yet with a population of around 26 million inhabitants, it is only sparsely populated. Since the 1970s, the population growth of Australia has remained fairly constant. While there was a slight rise in the Australian death rate in 2022, the birth rate of the country decreased after a slight rise in the previous year. The fact that the birth rate is almost double the size of its death rate gives the country one of the highest natural population growth rates of any high-income country.
National distribution of the population Australia’s population is expected to surpass 28 million people by 2028. The majority of its inhabitants live in the major cities. The most populated states are New South Wales, Victoria, and Queensland. Together, they account for over 75 percent of the population in Australia.

Sydney had the highest median house value compared to other capital cities in Australia as of April 2025, with a value of over **** million Australian dollars. Brisbane similarly had relatively high average residential housing values, passing Canberra and Melbourne to top the pricing markets for real estate across the country alongside Sydney. Housing affordability in Australia Throughout 2024, the average price of residential dwellings remained high across Australia, with several capital cities breaking price records. Rising house prices continue to be an issue for potential homeowners, with many low- and middle-income earners priced out of the market. In the fourth quarter of 2024, Australia’s house price-to-income ratio declined slightly to ***** index points. With the share of household income spent on mortgage repayments increasing alongside the disparity in supply and demand, inflating construction costs, and low borrowing capacity, the homeownership dream has become an unattainable prospect for the average person in Australia. Does the rental market offer better prospects? Renting for prolonged periods has become inevitable for many Australians due to the country’s largely inaccessible property ladder. However, record low vacancy rates and elevated median weekly house and unit rent prices within Australia’s rental market are making renting a less appealing prospect. In financial year 2024, households in the Greater Sydney metropolitan area reported spending around ** percent of their household income on rent.

BHP's profit came to approximately *** billion U.S. dollars in 2024, a decrease of around **** percent when compared to the previous year. BHP (formerly known as BHP Billiton) is a British-Australian global mining company, headquartered in London and Melbourne. The company is one of the top global players in the mining and metals sector. Mining company BHPBHP’s profit peaked in 2022 at **** billion U.S. dollars, a drastic increase from **** billion U.S. dollars in 2021. In 2023, BHP employed ****** people globally, and around ****** of those employees were located in Australia. BHP is a mining, metals, and petroleum company, founded in 1885. BHP and Billiton merged in 2001 and current the headquarters are located in Melbourne, Australia. Billiton was originally a mining company, while BHP, short for Broken Hill Proprietary Company, began with a large silver and lead mine operation in Australia. The company is focused into ten different operational units and includes energy coal, iron ore, petroleum, and uranium. In 2023, the company produced *** million metric tons of iron ore, and thus is one of the largest producers of iron ore in the world. One of its iron ore mines is located in Belo Horizonte, Brazil, known as the Samarco iron ore mine and pelletizing plant. In the same year, BHP produced some **** million metric tons of energy coal and **** million metric tons of metallurgical coal.

Over the past 20 years, the share of the Australian population that holds a degree at a bachelor level or above has increased by more than six times, reaching 50.8 percent in 2022. Since May of 2023, however, that number has dropped to only 32 percent. In Australia, the tertiary education sector comprises both public and private institutions. The student body is comprised of both domestic and international students. University graduate employment Domestic students make up most of the graduates within Australia. The vast majority of graduates in 2022 found full-time employment after studying, with the fields of medicine, pharmacy and rehabilitation having the highest rates of employment post graduation. Dentistry graduates earned the highest median full-time salary of recent university graduates in the country. International study landscape International students are a rapidly growing segment of Australia’s tertiary education sector. The export income from international student activities amounted to just under 36.5 billion Australian dollars in 2023. Chinese students accounted for the largest share of international student enrollments in the same period. Students completing their studies at Australian universities are attracted to the prestige of obtaining a degree at some of the best universities in the world. Moreover, graduates have the opportunity to enter the Australian labor market and to apply for a permanent visa in the country.