July Message from AmCham CEO

The challenges ahead for Australian business

Australia has the lowest vaccination rate in the OECD, which explains why 18 months into the pandemic, COVID keeps sending our capital cities into snap lockdowns. Businesses across our two biggest states have been subjected to the most severe and extended fluctuations, suspensions, and interruptions, but no state has escaped completely.

Notwithstanding the recent stay-at-home orders that affected half of the Australian population, the economy has been booming. Just over a year ago, many of us were madly scenario planning our responses to the anticipated economic doom and gloom. To be sure, the shut-downs caused an economic slump that had to be addressed through stimulus. Now, however, the global economy is in full swing. Iron ore and oil prices are soaring, unemployment is plummeting, and indications are that stock markets will hit all-time highs this year.

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