“Once people come to Australia, they join the team.” – Tony Abbott
Life in Australia is like an everyday adventure because this country has so much to offer. Living in Australia makes you a winner in almost all aspects, so if you are contemplating visiting and eventually moving to the Great Southern Land, this article is for you.
What Is It Like Living In Australia?
Australia is often referred to as the “Lucky Country” and the “Great Outback.” Indeed, living in this country would make you think that there’s no better place to be. Australia offers nature and wildlife at their finest and has one of the best climates in the world.
For starters, given that Australia’s economy is thriving and stable, you’d expect the standard of living to be better here. This means higher earnings, fewer work hours, longer holidays, and plentiful employment opportunities.
This multicultural and diverse country promotes a more outdoorsy way of life. Australia can be home to almost everyone—couples who want a safe and ideal environment to start or grow their families, students who want world-class education and training, and young professionals looking for growth and independence.
Due to the large number of tourists and immigrants who have settled there, Australia has developed a friendly culture. There’s plenty of space and housing available for everyone, and although the cost of living is higher and the cities are pretty spread out and far from each other, Australia makes a perfect home.
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Where To Live In Australia?
Relocating somewhere specific in Australia can be quite overwhelming. The territories and major cities of this country all have something to offer.
But so far, Adelaide, Brisbane, Melbourne, Perth, and Sydney have emerged as the best cities, and here are the reasons why:
There’s something homely and welcoming about Adelaide’s country vibes. It is quieter than Sydney and Melbourne, and families take advantage of the lower cost of properties in the area. Job opportunities, especially in healthcare, abound in Adelaide.
Pegged as Australia’s best lifestyle city, Brisbane is the perfect rural escape for everybody. Residents can enjoy plenty of outdoor activities because it is close to the Gold Coast and the Great Barrier Reef. The warm climate year-round is also why Brisbane is inviting, and its economy’s steady development and stability make it a stable and promising new home.
A multiculturally diverse city, Melbourne is a hotpot of immigrants and culture. If you plan to start or grow your family, this is the city to be in. If you want to immerse yourself fully in Oz’s vast and diverse culture, settle in Melbourne. As it is one of the major hubs, the cost of living here is expensive. It is certainly not affordable compared to Sydney.
This laidback cosmopolitan city with the best weather in all of Australia is your choice of headquarters if you want to enjoy the best of life, pause to smell the flowers, and admire the waves of the beach. Perth’s employment opportunities and economy are steadily rising, particularly in the information technology industry. Families with children also lean toward Perth because of its good schools.
This is the best place to live if you want to jumpstart your career and business. Australia’s biggest city is home to the country’s most iconic destinations, but it is also the city if you want to prepare for your future financially. Thanks to Bondi and Manly Beach, this is a place where work-life balance is possible.
Education In Australia
Australia is home to 43 universities; eight are hailed as the Group of Eight (Go8)—eight carefully selected research-intensive universities. They are the Australian National University, Monash University, the University of Melbourne, the University of Queensland, the University of Western Australia, the University of Sydney, the University of Adelaide, and UNSW Sydney.
And one reason Australia is the place to be, especially for students, is that the education system is of the highest quality. With a comprehensive and competitive curriculum, it is considered one of the best for international and local students. Globally, Australia’s education system is ranked 3rd.
As of early 2023, there were 567,947 international students enrolled in an internship in Australia, with the top fields of study being management and commerce, engineering, and information technology.
International students from China, India, Nepal, and Vietnam account for most of the international student population.
Additionally, Australians and permanent residents also have free access to education, given that they enrol in government schools in any of the territories. The government also allocates about $200 million for local and international scholarships.
Compared to the US, the cost of education in Australia is relatively cheaper but of better quality.
Healthcare In Australia
One of the reasons why Australia is appealing is because it has one of the best healthcare systems in the world. This is a combined effort from all the Australian government branches—federal, local, state, and territory. It is primarily funded by the government and assisted by private health insurance.
Australia’s healthcare system is referred to as Medicare, which provides healthcare services to Australian residents for free or at a lower cost—the taxes every Australian pays go toward it. One of the reasons why Australia’s healthcare is one of the most competitive is because it is not just focused on sick people or physical illness.
Many Australian healthcare programs focus on prevention, early intervention, and proactive health management. This minimizes the chances of Australians getting sick and also lowers the risk of the emergency departments and healthcare facilities being overpopulated and overrun. This is a more cost-effective approach in the long term.
Aside from these, Medicare works hand-in-hand with the Pharmaceutical Benefits Scheme (PBS), so Australians can purchase their medicines at a more reasonable price. The PBS works by subsidizing the cost of the medication, so Australians can get what they need without paying the full price.
Cost Of Living In Australia
Australia is ranked as the 10th most expensive country to live in the world (out of 79). The cost of living in Oz is almost 6.5% more expensive than in the US, so the quality of life in this country comes with a hefty price tag.
Of course, those living in Australia’s major hubs can expect a higher cost of living than those in its regional areas.
A single person living in Australia can expect to spend more or less ~AUD 1,571 (~$1,046) without rent, and with rent, this goes up to ~AUD 3,868 (~$2,575). A family of four should have a reasonably comfortable life with a monthly budget of ~AUD 5,536 (~$3,686.15) without rent, and with rent baked into the finances, it jumps to a whopping ~AUD 7,214 (~$4,803).
Rent and market needs are where the bulk of monthly expenses are allocated. As of 2022, Sydney was pegged as the most expensive city to live in Australia and was ranked the 10th most expensive city worldwide. Melbourne, Adelaide, Brisbane, and Canberra all follow, and these are all major cities in the Land Down Under.
Banking System In Australia
Regarding Australia’s financial system, there are four central retail banks in Australia—ANZ Banking Group, Commonwealth Bank of Australia, National Australia Bank, and Westpac Banking Corporation.
These banks have a nationwide presence and are all among the top 80 banks of international banking. Several small-scale banks in Australia add to the 53 banks operating in the country.
Most banks allow you to open an account even before arriving in Australia through their websites. If you opt to be in Australia and personally attend to the process, it is recommended that you accomplish this within six weeks from the time you arrive in the country.
Most Australians opt for a transaction account for their everyday banking needs, which should take care of depositing their income and paying cashless for goods. Additionally, they set up a second account dedicated to savings—their high-interest savings account.
Other types of bank accounts in Australia include a cheque account, credit account, and credit-debit account.
The financial structure in Australia is designed to be convenient, thanks to the many available Automated Teller Machines (ATMs) that let you withdraw, make a balance inquiry and even deposit funds to your account.
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Australia is known for its crocodiles, aboriginal culture, Bondi Beach, and being a second home to immigrants. If you are looking for a safe, thriving, and accepting setting in all aspects, Australia is just the place for you.