According to a recent Tech Council report, Australia’s technology sector could contribute $244 billion a year to GDP by 2031 and employ 1 million workers by 2025 if the nation can catch up with its global peers. That’s an extra $77 billion a year and 141,000 jobs than today.
And by supporting a rapidly growing industry like technology, we can further diversify our economy and sustain our prosperity.
Attracting more technology companies to expand in Asia Pacific via Australia can help us capture these opportunities. Such companies employ Australians directly and often run platforms that help local businesses to export their products and services. International names also introduce new knowledge and capabilities, and add to a culture of innovation.
At HSBC, we have been helping technology companies succeed in Australia and beyond, using our global reach to support their growth and expansion. We have been providing traditional and non-traditional financing, such as venture debt, so technology enterprises can address some of today’s most pressing problems and reach their full potential. As Australia continues to become a leading digital economy, HSBC will leverage its deep industry and market expertise, and comprehensive financial solutions, to help it realise its vision.
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