The markets across the world are badly hit due to the COVID-19 pandemic, but the one sector which is flourishing at present in terms of both business growth and employment generation in FinTech! The FinTech software and services industry is estimated to touch $45 billion at a CAGR of 7.1% throughout the globe by the end of 2020. As per NASSCOM, India has emerged as the world’s second-largest FinTech hub (after the USA) generating revenue to the tune of $ 2.4 billion.
Our nation is a fertile ground for the Fintech revolution and operates more than 2000 start-ups. One major reason for the massive growth of Fintech is blooming in our nation is the grant announced during the 2019-20 union budget. Finance Minister Nirmala Sitharaman declared that businesses with an annual turnover of INR 50 crore would have to use digital modes of payment, like Aadhaar Pay, NEFT, BHIM, etc, and if they do, they won’t bear additional charges. The government’s decision has undoubtedly benefitted the domestic Fintech segment!
If you are interested to learn more about this rapidly growing field, BSE Institute Ltd offers courses on Fintech. Please visit http://mumbaiuniversity.bsebti.com/masters_in_financial_tec…
When you look at a financially stable person, you often wonder, “how do they do that”? What differentiates a financially stable and unstable person is their respective investment portfolios.
Today, if you are young and reading this, consider it to be your lucky day. Investing young and building an investment portfolio can take you places. If you know the power of compounding, you will realize how important investing is.
So, where do we begin?
Planning your investment portfolio is not easy. It is quite challenging, even more if you are not good with your personal finance. First of all, managing your portfolios is not simply about, “which stocks to buy”, and “which stocks to sell”. Portfolio management requires self discipline, patience, and a bit of knowledge about the companies you wish to invest in.
I’m not going to talk about the stocks to buy today, instead I will talk about how to build your portfolio and stand out!
Risk taking ability
The first question you must answer before investing and building your portfolio is, what is your risk taking appetite. The stock market today is like a restaurant which offers you variety of food to choose from.
You need to understand that some might have higher risks,but at the same time has the potential to give higher returns.
Similarly, there are shares that come with lesser risks, but the returns could be comparatively lesser. It is up to you to decide your appetite and hand pick the right stocks.
Another important step that you need to take, while deciding your risk taking appetite is to decide your short, medium and long term goals. This will help you construct your portfolio in a better way.
If your appetite for risks is extremely low, you could simply invest in mutual funds which is a much safer option. There are various types of mutual funds in India, starting from equity funds, debt funds, index funds, etc.
Assessing the external financial situation
The next step is crucial- to come up with an investment strategy. By assessing the economic situation of the market, you will be able to predict about the future. This assessment combined with your needs could help you plan for the future.
Since, the market landscape is bound to change with time, it is important that you always keep an eye on it and adjust your portfolio accordingly to reduce losses and maximize gains.
Build your portfolio
Now to the final step. Once you have done your analysis, you can finally start building your portfolio by allocating the necessary asset classes and securities. You can always hire a portfolio manager for expert suggestions. It is important to understand that the whole objective is to minimize the risks and attain your investment goals.
You should not see your investments as a source of long term income. Instead, look at it as a business which could help you make money without actually participating in any business. Once you look at it through a business’ perspective you will realize the impact it could have on your wealth and the benefits that are meant to follow.
Once you have built your investment portfolio, you can relax and continue to keep an eye on the market. Make the appropriate changes as per the market scenario and stick to the strategy.
All the steps we saw are part of a cycle, therefore an investor must ensure that he keeps going about the same steps during suitable intervals. This will ensure that your portfolio is stable and your graph is moving towards your goals.
The world could be a much better place if everyone was financially literate and focused on making their money work for them instead of working for money.
When it comes to the stock market, the potential is endless. BSE Institute Limited’s Executive Program in Wealth Management is a course built for you to exploit the potential of the stock market and multiply your portfolio. This is your chance to learn something incredibly important and secure your future.
The year is coming to an end, and so is the decade. The past decade has seen major changes in all existing sectors and has given rise to new sectors. Social media has taken over the world, self-driving cars have arrived, and we have banking facilities at our fingertips and the list can go on and on.
The changes in the industry are crystal clear when we compare the start and the end of the decade. How these changes have been implemented in this world?
There are underrated players in the industry who facilitate these changes. The reason we call them underrated is because their efforts are not visible to our eyes, but we see the end products. A lot of changes in our lives happen, without us realizing them, as they are implemented very smoothly.
A leader is the one who holds an organization together. He is the ultimate go to person for all employees, clients and vendors. So, what makes this position so unique and demanding? In today’s ever changing world, which traits would make a leader competent?
- Eagerness to learn: Technologies impact businesses in a unique way. It is a given that a firm needs to adapt to the new tech or risk losing its share of the market. Customers love innovation and are instantly attracted towards it. This is the reason why we say, “leader must be eager to learn”. An ideal leader must be curious about new innovations and trends, so that he can implement the right ones in his company. This eagerness to learn ensures that the leader is open to his subordinates’ thoughts. It not only helps creating a positive work atmosphere but also welcomes new ideas that could benefit the organization.
- Value your workforce: This is probably one of those tips that you have been receiving throughout the past decade or more. The problem is that not everyone follows this which leads to dissatisfaction among the employees. In a world that is so closely connected, it is very important to stand out from the rest. It will help develop a sense of inclusiveness among the workforce, which will be directly visible in their work.
- Empower the workforce: Any leader will be a little skeptical of this point. A lot of us might even see it as being risky. So why empower the employees, who do not have adequate experience? Digitization has made sure that employees have quick access to resources that is needed for their work. This should kick out the process of going through different levels for getting the required data and go ahead with any particular work. Employees should feel free to make any decision that could benefit the organization. The leaders in turn must assess these decisions to increase the efficiency and quality.
Some of you might mention, that these are easier said than done. Let us quote an example from the Indian IT industry:-
There was a point in 2014 when Infosys, a Bangalore based multi-billion dollar company was struggling. Their results weren’t up to the mark which saw its share price fall sharply.
In came Vishal Sikka, who was appointed as the CEO of this firm and asked to change its fortunes.
In the 2 months prior to his joining, 1 in 5 employees were leaving the organization. To change this, he promoted over 5000 people in the organization, with a pay rise.
The second change he brought in was to change the company from being low cost to high quality. The idea was that people are willing to pay more for better services. Along with this, he held “design thinking workshops” for his employees who were encouraged to come up with ideas to be more efficient on projects.
In 2015, he made sure Infosys was up to date with the latest industry technology. They just couldn’t compete with their western counterparts with the existing tech forever.
He even decided to move the corporate focus to Artificial Intelligence (AI). This will again benefit the firm in the longer run, as all major MNCs are now moving towards AI.
All the decisions Mr. Sikka took started showing results. The attrition rate dropped sharply and, the business started showing green shoots of growth. Infosys witnessed the highest rate of business growth in almost 5 years. All this resulted in a motivated and confident workforce – which was highly productive as compared to the past and their industry peers.
Now that we have seen an Indian example, you can imagine how important it is to have a perfect role model for a leader. Ensuring there is growth, keeping staff satisfied and creating a positive atmosphere for all your employees is crucial!
“Of all the things I’ve done, the most vital is coordinating those who work with me and aiming their efforts at a certain goal” – Walt Disney
As a child, you might remember the times you were chosen to be a leader. It needn’t be for a huge event. It could even be the time you were elected as the captain of your cricket team while playing.
How did you feel in that very moment? I remember how I felt. I could feel a sense of responsibility on my shoulders, to make sure my team performs well, and wins the match.
THE IDEAL LEADER
People often look at a leader and say that he/she is a born leader. Do you really think a person is born with all the qualities to be a leader? The answer is ‘NO’.
Although, yes, there are some people who are born with certain qualities that help them lead, but in the end, it is all about how eager you are to learn from your mistakes and bounce back.
How effective are you when it comes to observing the people around you. There are people who go through different experiences, which makes them behave differently. These help a leader understand the differences that exist among people. It is a vital experience for a leader’s growth.
Basically, a leader is someone who is willing to learn and grow through experiences and be the better version of himself all the time.
We as human beings tend to be different. We have different personalities, habits, interests, etc. But when it comes to leadership, there are certain values that you need to inculcate in yourself. This includes treating people the right way, making sure they are motivated at all times, working towards a common goal and being available to your people.
This will make sure that they look up to you every time they are in trouble, and most importantly, they will have your back when required.
During the tough times, you will be the ray of hope for them, who can guide them from the point of struggle to the point of victory. This is the essence of any leader and something every single employee will expect in his superior.
THE IDEAL BUSINESS
A business during its early stage is like a baby. You need to be very careful and conscious about your decisions because the decisions that you take in the start will make sure how strong your roots are.
One of the common problems faced by a business is when they start hiring. When an employee is hired, it is necessary to make sure that the person is well aware about the goals, the values and cultures of the company. This will give him an idea as to how he should work, and the importance of his contribution. The employees will lose motivation if they feel that there’s no clear idea for the business.
Moreover, most of the employees who join a company hope to be a part of a business which helps the world. Therefore, the leader of the organization is expected to align the business goals (monetary) with things that have a positive impact on the world.
This is a good point to speak about in “Corporate Culture”. Culture is not something the employers or leaders make, it is something that the employee witnesses every single day. To ensure a positive culture, it is important to make sure that the right people are hired for the right jobs. This ensures that the people working are competent and are really interested in what they are doing.
Similarly, communication is something that needs to be focused on. A lot of the things discussed between top executives never reach the employees. Transparency in communication helps maintaining a positive culture in the organization. An organization which follows these values can feel the positive atmosphere around itself.
This can be done through one-on-one session which will make the employee comfortable in giving out their opinion. You could ask for feedback on the current culture surrounding the work and suggestions to make it better. A thorough and an honest dialogue will inculcate a sense of inclusiveness among the employees, and this will motivate them to be better.
I’ve read about some of the most famous business leaders but none of them have impressed me as much as Henry Ford. There’s something about him that makes you feel that he’s one of the most successful leader.
Ford wasn’t just someone who used to think about the end consumers. He valued the workers at his firm as much as he valued any other person. He exemplified this by paying a good sum of money to his workers so that they could afford the cars that they make.
He was also a firm believer of the fact that you should surround yourself with like minded people who would motivate you to be better and push your limits. He made sure he hired some very motivated personnel who would work hard for the firm, and believed in his vision for the company.
The man was the epitome of leadership, who valued the small things and knew that these were the things that would help his business eclipse the rest.
THE DIGITAL AGE
The digital age or the modern age is moving and changing rapidly. You can get queries and opinions through digital means at any given point. From stakeholder queries to employees, you’re answerable to each question. This calls for you to be ready with the answers at any given point.
The decisions you take must be taken after a clear thinking process and should ensure that there’s a genuine reason for taking a particular decision. Communication here is the key. A smooth and convincing flow of words will establish the fact that you have a better idea about running the business.
This is where an in depth knowledge in history, human interaction and philosophy can do wonders for you! This is extremely important because no matter which business you are part of, you’ll always have a team with whom you’d have to interact with.
The people in your team need to be understood and trained accordingly in order to get the job done in an efficient way. A peoples man will always be able to get the work done from his team and at the same time maintain a positive attitude.
The modern world of business is a very different landscape from the past. It is constantly evolving and this calls for the leaders to be versatile. No one is born with all the qualities needed to be a leader. However, it is the ones who easily accept changes who reach the top of their industry.
Normal people become great leaders by focusing on areas that are ignored by others. This is what gives the great leaders an edge over the rest, which results in a positive impact on the whole business.
Cash is on its way to become a collector’s item. This will be because of the ease of the tap-and-go payment systems and the online payment systems which are being used extensively across the globe.
In late 2016, Denmark’s government decided to discontinue the printing of banknotes and proceeded to shut down its last mint. With this, the country silently announced to the world that they are fully embracing cashless transactions.
Around the world, the picture isn’t too different. More than 50% of all Americans carry less than US$20 cash in their wallets. 9% of all Americans are said to have stopped carrying cash. The Reserve Bank of Australia to believes that Australia is at a similar point, with cash set to become a “niche payment”.
Why change to cashless?
In the past nine years in Australia, the share of cash in consumer payments have reduced down to 39% from a high of 70%. This indicates the growth of cashless transactions. A study by MasterCard says that ‘nearly 90% of all Australians will regard your business negatively if you accept only cash as the means of payment.’.
On the other side, Australians think that where cash is risky to hold onto, and it reduces transparency in transactions. Whereas electronic payments can help to promote financial inclusion and boost the economic growth of the country. Alternative payment technologies such as digital wallets (Apple Pay, Android Pay, Samsung Pay), tap and go contactless payments and wearables have now become the popular cashless options for day to day use.
How do cash free customers affect Australian Business.
As customers are increasingly abandoning cash for digital payments, businesses are also opting the same.
A recent report shows that Australian business receives 46% fewer cash payments than they used to receive in 2010. At this rate, cash receivable will be totally struck out by 2020. The consumers are eagerly switching to online shopping and have pushed online retail sales beyond the $20-billion mark in a new record.
The new businesses are now choosing online and alternative payment methods more seamlessly in the grand scheme of things. This means that to be on top of your competition, having the latest digital payment system is a must! Starting from smart checkout design to secure payment processing. With digital payments having a direct impact on sales, revenue, consumer loyalty and profitability, cashless transactions are bound to be the most important business change in the coming decade.
Cashless transformations of the country has now become a priority for many Governments. Australia is known to be a hub for adopting such innovative steps for the growth of their industry, economy and GDP. It has proven to be one of the best destinations for any individual or business that hopes to build a brand new industry or who opts to work on something new. Australia is a great place for anyone who wishes to work on building promoting innovative businesses and technology.
If one wishes, to be a part of this environment, BSE Institute Limited helps you to study at one of the leading institutions of the World in Australia and gain access here. The Western Sydney University offers its most sought course – the Master’s of Business Administration (MBA), which gives students a great platform to build and launch their international finance career..
In an ancient age, on the continent of Africa, over 64,000 years ago, there was an important technological innovation. It was an advanced weapon which is still used in many parts of the World for hunting and defense. The bow and arrow is considered to be one of the most important innovations, that pushed mankind to think more and innovate more, in order to conquer more land and natural resources.
The times and the players may have changed, but the game is still the same! Governments still fight over the control of markets, land and natural resources. In some cases, they go to war! Similarly, innovation has been an important part of the human history. It is the one thing that has set us apart from other animals we share this planet with.
In this millennium, digital technology is what everyone is looking out for. Artificial Intelligence, Fintech, Digital platforms and other internet based technology, which has the capacity to revolutionize the world.
The world is rising up to explore the vast possibilities of these emerging technologies. These technologies bring new opportunities to make a profit in the markets. According to a study by Cisco and International Data Corporation, globally the net job addition with these technologies will be more than 5.9 million by the start of 2027 out of which 1.4 million will be in India.
Data analytics is evolving rapidly and with the help of Artificial Intelligence, it can certainly save plenty of money. Beca, a leading professional services firm has recently adopted AI to ensure smooth management of buildings and other infrastructure. Beca is based in Auckland. It uses a digital model and the latest cloud-based mobile technology. It has a well developed advanced data analytics system, which accurately tracks the energy use, building maintenance and any other division that may need regular servicing.
The system automatically collects and analyzes millions of data points all over the building, detects faults and also diagnoses the issues including wastage of energy using algorithms and rule checks based on engineering formulae.
The building managers operating it can see the performance and also give custom instructions by simply logging into their online dashboard through their mobile devices. These smart buildings use ground-breaking technology which can save up to 30 percent in the power bills and at the same time deliver a return on investment within two years.
During the renovation of any property, the asset information is captured on site using iPads and then embedded back into the 3D environment. This also includes data from the supply chain and linking essential documents such as manuals, commissioning information and warranties of specific 3D models.
This solution enabled the property owner, to digitally manage the life cycle of the building’s plant and equipment with greater efficiency, accuracy and transparency. This helped reduce the maintenance costs.
Beca first introduced its building tuning service at the Victoria University in Wellington. Due to this, the University successfully saved $84,000 and also sustained energy reduction of 30 percent in a year. Beca is also providing data analytics systems to over 90% buildings of Singapore’s Nanyang University campus.
There are many companies like Beca, who are working on building technology solutions, that make the jobs of humans easier and more cost effective. They can transform the way we plan and execute work in the industry they are applied in.
New Zealand is a hub for many new tech companies which are coming up with new innovations like the ones mentioned above. New Zealand has proven to be a great destination for any individual who hopes to work on AI or anything new and innovative. As a nation that is steeped in promoting innovative technology and business, New Zealand is a great place for anyone who is willing to work towards promoting new technology.
BSE Institute, a 100% subsidiary of BSE India, helps you learn at one of the best universities of New Zealand, the University of Otago. With our Master’s of International Business program, students get to learn in a research driven atmosphere that helps them learn to think like innovators, who disrupt large industries.
According to a report published by Deloitte, released at Telstra’s annual innovation and technology showcase, 5G technology will help the Australian economy grow by a large margin. The report claims that the Australian GDP could be worth up to $2000/ person, or between a staggering $32 billion & $50 billion by 2030. This report was commissioned by Telstra, which is Australia’s largest telecom company, to analyze the potential benefits of 5G on the Australian economy and their business.
The Australian economy has expanded by 2% due to the productivity benefits which Australian businesses have received from better internet/ telecommunications. The survey has been done among 550 business leaders of Australia. 78% of them said that faster, reliable and responsive mobile communication would benefit their business.
The roll-out of 5G across Australia will bring better speed and improved network capacity, which shall help citizens and businesses lead better lives and conduct more business. 5G is expected to raise the technological capacity for Artificial Intelligence (AI) and Augmented Reality (AR). Almost 80% of all companies have implemented one of these technologies in their businesses. Earlier this number was at 65%. This will help in the growth of the digital economy in Australia.
The commonly cited barrier for companies to adopt emerging technologies, is that they are too expensive. Many companies are interested in investing in these products, but they are not willing to pay more than 10% of the current price to have a faster and a reliable telecom network. Most of them are pointing out that the biggest benefit of 5G will be better, flexible work hours and improved customer service.
What to expect from 5G:
- Faster Speed
5G will be a whopping 100 times faster than 4G. 5G can be as fast as 10 GBPS. Qualcomm simulation shows that apps in a 5G network are capable of 7 times faster browsing and 12 times faster download speeds.
5G is expected to be the choice for future systems responsible for self-driving vehicles, mobile payments, Virtual Reality (VR), Internet of Things (IOT) and drones.
- Less congestion
5G networks will use several spectrum bands, many with higher frequencies. It is expected to support around 1 million connected devices in a square kilometer area.
Handling a large amount of data is crucial and companies with data driven strategies will get increased productivity and profits.
Most Australian companies are expected to switch to the 5G network by 2020. The bigger conglomerates are planning to get it at the earliest, as they are expecting to get increased productivity, increased workforce participation and better business opportunities. In 2015 alone, mobile technology added $34 billion to the Australian economy. As estimated by the Bureau of Communications and Arts Research (BCAR), 5G helps in increasing productivity, which will ultimately add $1300 to $2000 in GDP per person by 2030.
Thus, anyone planning to work in Australia will definitely be in a position to work and grow along with the Australian economy.
Study in Australia with BSE Institute Limited and the University of Western Australia. Our Masters of Business Administration and Masters of Applied Finance program prepares you for an international career in finance, banking, funds management and corporate treasuries. For all those planning to study abroad, Australia, can be a great launchpad for your international career – as it’s on the cusp of a golden economic period.
Artificial Intelligence (AI) is rapidly changing the way financial institutions attract and retain their customers. However, it requires new models of collaboration among competitors to transform this industry into something better – report by the World Economic Forum (WEF) and Deloitte.
The report, “The New Physics of Financial Services”, explores the work of AI in transforming financial institutions by radically changing operations of the front and back office, creating major shifts in the regulation of markets.
Many have seen the impressive demos of AI assistants making appointments by calling a restaurant or a hair salon. In New Zealand, many banks have planned to launch these AI based customer service offerings for their retail consumers.
The report identifies four core findings that investigate how AI is fundamentally changing the front-and back-office activities of financial institutions:
Cost center to profit center – AI enabled back-office functions will enable financial institutions to transform their services while pushing them to outsource other unimportant functions. These AI enabled processes will continuously learn and improve by themselves, using data from its collective users. By learning and improving simultaneously, the products developed here can be easily used in the real world. Thus, R&D centers can give a much lower turnaround time and can go from cost centers to profit centers.
A new battle for customer loyalty – Old methods of differentiation for financial institutions such as cost, speed and access are disintegrating. AI is offering a new set of competitive tools with which financial institutions can differentiate themselves.
For instance, the ability of institutions to recommend and advise their customers, will allow them to compete on the value offered.
Also, curating the ecosystem by uniting data from multidimensional systems that incorporate customers, corporate clients and third parties will enable financial institutions to offer better advice and improve performance.
Self-driving finance– Financial advice, a part of every product, is often impersonal and generic. It also tends to be excessively dependent on subjective advice from various customer service agents. A self-driving vision of financial institution could transform the delivery of financial advice, centering customer experience on AI. Thus, every customer may get a different advice based on his income, risk appetite, etc.
With this, individuals can interact with a single platform or an agent who recommends the exact investments/ products an investor should choose – which can be unique for every investor.
AI executes this in three ways:
- empowered platforms which can think about and switch products and providers
- progressively customized advice in view of information and
- consistent optimization through calculations which will automate most routine customer decisions.
Aggregate solutions for shared problems– While AI presents increased opportunities for competition, it exhibits a solid mechanism for co-operation as there are too many shared data-sets.
There is a great potential for cross-institutional cooperation on issues, for example, fraud prevention and anti-money laundering controls, which are regularly run ineffectively and insufficiently today.
Collaborative arrangements based on shared data-sets will fundamentally increase the accuracy, convenience and execution of non-competitive capacities, improving mutual efficiency in tasks and improving the safety of the financial system.
New Zealand is one of those rare developed nations which is has advanced research & development facilities and has quickly implemented value add products that show promise. It is always one of the first countries to import and try out new technologies, which can make it a net exporter of advanced products and services. It has made a lot of progress in the field of Finance, Financial Technology and Artificial Intelligence and is currently on the cusp of becoming a major financial hub due to its efforts.
Despite all the tech and innovations, New Zealand still needs skilled talent to manage this technology.
The University of Otago is one of the best Universities in New Zealand and the world. Along with BSE Institute Limited, it offers an MS in New Zealand, pursuing which could be one of the best decisions of your lives. With 5 postgraduate courses which provide a research-led learning environment, New Zealand can truly be a destination of choice for those hoping to build an international finance career.
Growth is described as a process of transformation. Economic growth is a process by which a nation’s wealth increases over time. It is measured as the percentage of increase in real Gross Domestic Product (GDP).
Economic growth means an increase in real-time GDP. This increased GDP means an increased in value of national output or national expenditure.
Why is economic growth important:
Economic growth is very important for a healthy economy.
Economic activity depends heavily on the availability of finance and credit. Most investors and bankers have the funds that can develop economies, but they don’t invest their cash too fast. Their primary concern is the ROI that they shall earn – which is heavily dependent on the growth prospects of the country.
Investors invest, only when they see a great opportunity to multiply their funds and the best way to do that is by investing in a business/ economy that has great growth prospects. The economic growth is one of the best yardsticks that most investors use to judge the growth and capability of an economy and thus estimate the ROI that they can get.
One of the biggest impacts on the long-term growth of a country is the national income and the level of employment. When a country’s GDP is increases, it means that there is more manufacturing/ business activity, which practically means that more people are being employed. It also means more earnings, exports, foreign exchange and taxes for the Government. This increases the wealth of the country and its population. It also helps improve the standard of living and thus reduces poverty.
Benefits of economic growth
- High average incomes: With an increased economic activity and low unemployment, the average incomes of people increase dramatically.
- Low unemployment: With a dominant economy and higher output, organizations tend to employ more people, thus reducing poverty.
- Lower government borrowing: A growing economy creates high tax revenue. It also ensures that the Government will be spending less on benefits, such as unemployment benefits. This will help reduce the government’s borrowing. It also plays an active role in reducing the Debt to GDP ratio (tracked by investors).
- Improved public services: Higher tax revenues help the government to spend more on public services, such as education, healthcare, etc. By spending more on education and skill development, a country has a highly skilled workforce which can innovate and take up jobs that need a highly skilled workforce. This in turn attracts businesses that need a state of the art manufacturing/ research facility, thus, creating more highly income jobs.
- Increased research and development: Economic growth leads to profitable organizations. It allows them to spend more on research and development, which in turn allows them to come up with better, cost effective solutions that help them get an edge over their competitors.
- Environmental protection: With an emphasis on research & development, the economy is able to come up with better technology that reduces its carbon footprints and increases economic output at the same time. This helps the society to use renewable resources for energy and many other technologies that are good for the environment.
There are many economies in the world which are experiencing and enjoying the benefits of globalization and a high economic growth. However, one country stands out amongst all these – Australia.
The Australian economy is growing at a rate of 3.4%, after an unexpected growth in the second quarter of 2018. The economy grew by 0.9% in the second quarter of 2018, beating the expectations of 0.7% growth. It has pushed the annual rate up from 3.1% in the first quarter of 2018 to 3.4% in the second quarter of 2018. This is the strongest growth in the last 6 years.
The Australian economy is the world’s 13th largest economy and rated AAA by all the global credit rating agencies (S&P, Fitch and Moody’s). Australia not faced a recession in the last 26 years, even during the height of the financial crisis of 2008. One of the key reasons for their growth has been a highly skilled workforce, that keeps getting re-skilled every few years. This allows them to attract all major manufacturers from across the globe to get their high precision products produced.
This is a major reason for Australia to be one of the most welcoming nations in the World for skilled professionals. In addition to this, Australia also offers some of the best educational opportunities for those who wish to learn and grow in the country.
BSE Institute Limited offers students a chance to study in Australia. It is in a collaboration with one of the best Universities in Australia, the Western Sydney University, to jointly offer a Masters in Finance and Master in Business Administration program, which reflects real business challenges, directly derived from the imperatives of business strategy & focuses on a different aspects of management.
The future is certainly bright in a country which has seen no recession in the last 26 years. However, one must make a wise informed decision before taking the plunge.