Why this is important to Wisconsin businesses: Wisconsin companies could benefit from investing in Australia’s telecommunications sector.
Australia’s telecommunications system already is robust, and the government is taking steps to improve services even more.
According to IBIS World, the telecommunications industry generated $22.5 billion in revenue in 2023, reflecting growth of 0.6% over the previous year.
Digital 2023: Australia, a report by Kepios, shows that 25.3 million people in Australia—96.2% of the population—used the internet as of January 2023, an increase of 252,000 over the previous year. More than 21 million Australians, or 81% of the total population, used social media.
Australia’s government approved a Telecommunications Reform Package in 2020 aimed at improving competition and establishing long-term financial support needed to expand broadband access to all residents, especially those in rural and remote regions.
The industry already is competitive, with major players such as Telstra, Optus, and Vodafone leading the market.
A number of government incentives and programs are available to companies investing in telecommunications projects in Australia. The 2022-23 federal budget allocates $850 million to improve regional telecom infrastructure over six years and $530 million for a five-year program to expand mobile coverage in regional Australia.
Wisconsin businesses are encouraged to consider setting up research and development facilities in Australia focusing on artificial intelligence tools, network operations centers, or advanced technology such as 5G networks.
