69% of companies doing business with Australia plan to increase their activity this year. The data matches the Barometer of Spain-Australia bilateral economic relations presented at CaixaForum by the Spain Council Foundation.
According to the report, a large part of Spanish companies with export activity are planning to increase it, as they consider it a profitable and stable market to do business even in negative situations.
Having a presence in Australia is also helping companies mitigate the impact caused by unexpected risks. At least 63% of the companies say the same.
Nevertheless, companies face some problems when doing business with Australia. The most common of these are distance, time difference or entry barriers, such as certification or customs procedures. In addition, companies also mention other problems such as high costs, cultural differences, such as in demand or consumer habits, as well as restrictions imposed by anti-COVID-19 policies.
One thing in favor of Spanish companies in Australia is, of course, their good image in the country. The barometer collects very positive sentiments from Spanish companies in Australia, in addition, they emphasize that they have a very positive view of seriousness and high quality, as well as reputation in different Spanish regions.
Conversely, companies also warn of some negative aspects such as overlooking opportunities, lack of differentiation with other European competitors such as Italy or pigeonholing in certain sectors.
The barometer reflects Australian companies’ opinion of Spanish companies as well as their view of the Spanish labor market. In this sense, in the Spanish labor market, Australian companies value technical knowledge, labor costs and training tailored to the needs of the company, while the main weaknesses are seen in language knowledge and labor regulations.