SM60.

64 Managing International Business

Asian Institute of Technology
PESTE and SWOT Analysis on Australia

Submitted to: Dr. Logan Muller Date: 2010/02/26

Submitted by: Kushal Sundar Shrestha ST ID: 110570

Company Background
AirAsia is one of the award winning and largest low fare airlines in the Asia expanding rapidly since 1993. Commence with 2 fleets
Boeing 737-300, AirAsia has both domestic and international flights from hubs located in Malaysia, Thailand, and Indonesia. AirAsia
believes in no-frills, hassle-free, low fare business concept and feels that keeping costs low requires high efficiency in every part of
the business. Through the corporate philosophy of ³Now Everyone Can Fly´, AirAsia has sparked a revolution in air travel with more
and more people around the region choosing AirAsia as their preferred choice of transport.

Strength and Weakness

Strength
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Air Asia (AA), is the first Asian airlines to commence budget airline service to Asian market. It adopts low cost principal of
maximizing sales and minimizing operating costs, by reducing the unimportant operation and providing basic service to the passenger.
It maintains operating cost, but doesn¶t compromises with service and safety related to its passenger. In short period of time, it has
been one of the successful airlines in Asia.

2.?  

 


AA has increased the seats for passenger by pulling out business class, doing this has increased the capacity of seat availability by
more than 18%. Since no frill are provides, the aircraft doesn¶t need to have large food store and ovens, which reduces additional
weight of the aircraft.

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AA has lower turnaround time of 25 minutes compared to 45-120 of Full Service flight. Lower turnaround time optimizes utilization
of aircraft about five additional trips, and reducing flight crew staffs. AA aircraft could be used to 12-13hr flights where traditional
full service aircraft could be used for 8 hrs a day.

4.?  

AA obtained Leased Agreement for maintenance and repair at cheaper rate. Labor at AA is un-unionized, another important factor for
low cost. By maintaining inventories of a single aircraft, and providing basic service without food to passenger helped them to
maintain low cost.

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AA used extensive use internet, phone SMS and telephone booking to sale it seats, which reduced the cost of agents hence reduced
intermediary cost. AA didn¶t issue ticket in order to save printing cost.

6.? È 


Being the first budgeted airlines of Asia, it always carries pioneer advantage, which helps it to be well establishing in the market and
promote it brand equity. It always enjoyed monopoly in the market for budgeted airlines. This helps AA to lay down the rules and
framework for budgeted industry that has to be followed by upcoming competitors.

7.? È  
 

AA has lower turnaround time, which increased the frequency of flights. AA provided incentive to pilot for short flights which
reduced flight duration, which sorted to be suitable to frequent travelling business passengers.

Weakness
1.?  
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Being low cost and budgeted flights, AA cannot provide additional service to the customer as per the customer requirement. The
service provided was very limited, there weren¶t business class, no frill service and other service.

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Being budgeted airlines, the human resources are limited to reduce the cost, the staff¶s member cannot cater various situational needs
and handle irregular situation that arises during their operations.

3.? u


     
 



AA had to be solely dependent on e-commerce tool such as internet and phone, but market in Thailand and Indonesia had low internet
penetration and credit card usage. Hence the airline was missing out the potential prospects within these markets.

4.? 




 

’arious contracts and agreement were made to outsource different operation, including maintenance and repair service to others in
order to minimize cost. If ground support service contractors failed to provide service in time, overall operation would be affect and
delay the boarding time can be experienced.

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Limited aircraft also means unavailability of standby planes in the event of operational problems. Passengers have to face trouble
traveling on-time, which ultimately affecting brand equity

È u 




Foreign Direct Investment (FDI), a component of a country's national financial accounts, which explains the flow of investment from
and to foreign countries. FDI is investment of foreign assets into domestic structures, equipment, and organizations. FDI to country is
less riskier investments in equity of it domestic companies because equity investments are potentially "hot money" which can leave at
the first sign of trouble, whereas FDI is durable and generally useful whether things go well or badly.
Prior to measuring reliability of FDI, before investing to an economy, let us have look at the global trend of FDI. With respect to 2007,
Global FDI inflows declined by 14% from high $1979 billion to $1697 billion but in 2009 the figured reduced significantly by 44%.
FDI in developed countries seems to decreasing where are developing and transition economies seem to be increasing. As of 2008 FDI
inflows increased surprisingly in Africa by 27% Latin America by 13% and South Asia by 17%. But as of 2009, FDI in these
continents largely fell low.

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Now for Australia if we look at the FDI flow; the depiction would be, in 1996 FDI inflow was US $11.6 bn and per capita FDI was
US $6000, which was 2% higher than of its GDP, in 2002 FDI increased by 15.6%, in 2004 it again increased by 42.2% were as 2007
Australia¶s net FDI inflow was US $249 bn where as FDI per capita was US$ 11580 and in 2008 the FDI was US$ 332.8 billion were
FDI per capita is US$ 15090. FDI is in increasing trend, the story concludes that FDI doesn¶t want to fall down. We can conclude that
Australia is favorable country to invest in. But being a student of international business, FDI cannot be the sole base from which I can
make investment decision. FDI can be a tool for measuring investment decision, prior to make an investment decision, as manager we
need to look behind the statistics and data of FDI. I would like to explain my point taking example of Dubai one of the seventh states
of United Arab Emirates (UAE).
Dubai attracted investment with increased by average of 9.8% every year from 1995 to 2004. Furthermore growth rate in the following
year were 2005- 10%, 2006-10.8%, 2007-11.2%, and 2008 ± 9%. At the end of 2007 Dubai received FDI of US$ 54.78 bn. Therefore
understanding the above pictures; the FDI proved that Dubai was one of the best places to invest in earth. The story twisted with dawn
of 2009, Dubai was hit by the financial crisis. The key factor behind the crisis in Dubai was the classical boom-bust policies of the
UAE central bank. As of 2009, Dubai is in total debt of US$ 80 billion, the stock market is down by 70% on average, Real-estate
market has crashed, and half of the project is in halt position. This is the current status of Dubai, which FDI didn¶t predict in 2007, the
investment decision in Dubai on the basis of FDI proved to be wrong, as FDI cannot explain the environment of country and its future
effects.
Being a student of international business, in order to be on the safer side of investing in foreign countries, we must use information
regarding PESTE as political, economical, social, technological feasibility, legal and environment factors to analyze our investment
decision along with FDI, but one should not solely rely on their decision solely based on FDI.

Conclusion
AA is a budgeted airline, and has been providing quality service in lower cost, without compromising safety and customer service to
its passenger. The overall operation of AA highly depends on minimization of cost, and maximization of revenues. With objective to
gain market share of Australia, AA is planning to enter Australian market, but here the sole decision relies on PESTE analysis and
SWOT analysis. We have taken political, economical, social, technological and environmental aspects into account to analyze the
market of Australia and it feasibility for efficient operation of AA in Australian market.
After having a broader look at PESTE analysis, that Australian market is feasible and viable for AA. Australia¶s political situation is
sound, with no war or conflicts, economic situation is sound and moderate, technology is advance and there is high availability of
communication infrastructure, as of social analysis, there are diverse religions and races among peoples and finally various
environmental issues are there for AA need to consider. PESTE analysis concludes that AA should enter in to Australian market.

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Despite of these outcomes, as Manager of Air Asia, I cannot recommend to commence flight to Australia, because of these limitations
are based on Strength and Weakness of AA.

1.? Cost limitation ( including high cost of employees of Australia)

Air Asia is low cost carrier; it cannot take long haul flights of ten hours without providing basic service such as foods and drinks
on board to its passengers for ten hours. Considering the flight crew member, AA needs hire additional flight crew members,
because as a manager don¶t expect the same flight crew member to attend the return flight after serving ten hours. The cost of
employing a staff in higher in Australia compared to other Asian countries is higher. When flight is longer about ten hours, AA
shall have higher turnaround time, as outcome flexibility is decreased. On the other hand to have longer hour flights AA should
lease out new aircraft with higher flight-time capability. When new aircrafts are leased, AA needs to maintain inventories for new
aircrafts as well. With these overall changes AA has to bear increase in their operating cost. Considering these scenarios, AA shall
no longer be low cost carrier, or budgeted airline.

2.? Capacity of Aircrafts

If the flight-time capacity of the Boeing 737-300 is concern, the aircraft isn¶t capable of having longer flights of ten hours or more.
AA needs to lease out additional aircrafts having higher flight-time capability, and also think about maintaining inventories such
as engines and other spare parts, which ultimately increases operation and administrative cost.

3.? Competition
Keeping competition in mind, Australia already has four budgeted airlines. Such as ’irgin, Jet star, tiger and ’iva airlines.
Looking at this scenario Australia as market is already dense with higher competition among budgeted airlines.

4.? Market limitation in terms of population density

After getting into Australia, AA should manage to have higher number of frequent flyers to grab its market share Australia. Taking
the population density into consideration between Southeast Asia and Australia, Southeast Asia has dense population of 117
people/ km2 and Australia has 3 people/ km2. Australia has lower population density compared to South East and other South
Asian countries.
Hence as a conclusion, Air Asia can have benefit by not expanding into the Australian market, leaving it untouched with AA¶s current
structure of organization, policies, objectives, mission and facilities available.

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 Your notes Potential Implication and importance
Impact:



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1.? Trading policies Maintains active and High Australia has good trading policies with its neighbor
diverse international trade countries, and their trades are in favorable conditions,
 policy agenda which so operating Air Asia (AA) in Australia would be
combines multilateral, viable and there will be higher frequent business
regional and bilateral traveler.
strategies to break down
world barriers to trade.
Trade policies are equally
based on structural
economic reforms to
improve its international
trade competitiveness, and
initiatives to promote
liberalization of
international trade and
investment rules.

$? Home market lobbying/pressure Committed Pressure group Medium Pressure groups will make the organization to think
groups  are allowed in Australia, about the Corporate Social Responsibly and Ethics
which is good things, that it need to consider and practice in Australia.
because of open political AirAsia should come up with new business strategies
system, as results which benefits environment, people and demoralizing
consumer and the citizen un ethical activities.

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3.? International pressure groups
4.? Wars and conflict
5.? Government policies
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are more aware about the
real business situation.
Australia is a sophisticated Medium
and modern economy. It is
open market and it has
good relationship with
international welfare
organization High Pressure
group
No wars and Conflicts High
within the country, but
active as Peace Keeping
force in various Countries.
The Govt of Australia has High
open door policy, which
always motivates various
international business to
invest their resource for the
benefits of Australian
consumer
In the environment, where there is high international
pressure group, organizations should consider
international issues and change their operation so that
their daily operation, culture, functions and resources
doesn¶t violate the international laws.
Australia isn¶t involved in any form of war within and
outside the country, so the political environment
seems to be sound. Hence Australia shall have higher
tourist and business traveler. AA shall enjoy higher
revenues as result of higher number of frequent
travelers.
Open door policy of AUS government shall always
motivate AA to invest, penetrate and serve the future
prospect of the Australian Market.

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6.? Government term, change and The Parliament of the Medium For a AA it, has medium impact, because the
elections Commonwealth of government isn¶t changing either fast or lasting long.
Australia holds voting The political environment is stable. The business has
election for House of to three years of time to change in its policies when
Representative every 3 new government comes in power. Political stability is
year and 140 days after the assured.
first meet, using Australian
electron System

7.? Inter-country relationships/attitudes
Australia has good inter High When there is good inter country relationship, the
country relationship with countries get involved in both inflow and outflow of
other countries. It has FDI, as result AA shall have higher number of
established council with different frequent traveler between the countries.
various countries like
China, Japan, India, Korea
and other countries

8.? Governmental leadership
Conservative in terms of Low Restriction on the Capital ownership shall turn
Foreign Investment for investor off, and their working procedures, until and
Australian resource unless, the government welcomes investor which
Industries. Overseas reform tax policies.
investors are limited to
own stakes of 15% in
major Australian resources
companies; whereas capital
ownership is limited to less
than 50% for investment in
new projects.

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1.? Home economy situation
 economic growth rate of
2.? General taxation issues
3.? Seasonality/weather issues
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Low
Australia is facing Situation of home economy always has higher affect
recession, but still has the on the AA, since unemployment growth is 5.7%, and
the economic growth is less than 1 % so AA doesn¶t
0.5, with typical inflation seem to have frequent flyers from Australia as
of 2-3%, with economic activities are decorating and as overall
unemployment n rate of affect can be seen on the people lifestyle. Australia
5.7%. doesn¶t seem to be favorable.
High
There are various tax The corporate tax rate is very competitive in Australia
implied on Australia compared to major economies. Similar to New Zealand
among them are and Thailand. The tax rate of Australia seems to be
V? Sales tax- 10% feasible to AA and they can operate in sound work
V? Corporate Tax rate ± environment.
30% Competitive
V? Progressive Income
Tax
V? Pay-As-You- Earn
Tax( type of Income
Tax)
Medium
Weather variation from Seasons highly affects the business operation for an
north to south throughout airline industry. The Australian weather and climate
the year. Extreme hot, seems to be favorable for AA. But there might be fewer
humid and rainy at North weather problems at the southern part of country.
during Nov/Dec. Pleasant
weather is during April to
September.

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4.? Market and trade cycles
High
Trade Cycle of Australia is
more similar to the global
cycle for trend.
Market and Trade cycle is similar like global trend so
operating cycle is also affected on the basis of global
trend. is Generally market trend affects the airlines
business, as the transportation is highly required when
market and trade cycle are performing good.

5.? International trade
6.? Monetary issues
7.? Disposable income
High
Australia trade is more Presence of international trade shall increase the
focused towards Asia and number of frequent travelers from each trading
other pacific countries. It companies. Air Asia (AA) can have frequent travelers
has Free trade Agreement from AEAN, Chile, China, US and Thailand.
with ASEAN, Chile, New
Zealand, Singapore,
Thailand and US. China is
largest export market
High
Official Interest of The interest rate in Australia is lower than 3%, so as for
Australia has been declined better operation, AA can get finance in a lower cost, to
to less than 3% in 2009, so fund their daily operations.
that growth and investment
can be increased, by
lowering the cost of
borrowing money
Low
As per 2007-2008 Disposable income defines customer behavior and their
Disposable income spending habit, when consumer spends more, the
Upper level: $ 811 per market then to grow and business profits tends to
week increase. AA should focus more on mass who has
Middle level: $ 699 per lower disposable income, as higher income earner tend
week to use full service flights rather than low cost flights.
Lower Level: $ 44 per
week.

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8.? Job growth/unemployment
9.? Exchange rates
10.? Import/export ratios
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Low
Current unemployment is
5.7%, where as every year
52700 were created as
average.
Medium
A reserve of foreign
exchange and gold is $
44.98 billion, Australian
dollars (AUD) per US
dollar - 1.2894 (2009),
1.2059 (2008), 1.2137
(2007), 1.3285 (2006),
1.3095 (2005)
High
The ratio between import
and export ratio of
Australia is 1:1.01. Export
is higher than import by $
5 billion AUS dollars
Since unemployment rate is 5.7%, which is lower, so
AA might have problem to get skilled employees, they
might require using different human resource
recruitment tool to higher experience, skilled and
trained employees. The compensation payout is also
likely to be high because the supply of labor is low
where as demand is higher. This isn¶t favorable for
AA.
Stability of Currency has impact on the long-term
business in the economy. AA can be having confidence
regarding the exchange rate of Australian Dollar. This
is favorable for AA.
Higher export shall have higher number of business
traveler and transportation of commodities can be seen.
This concludes higher number of business travelers and
commodities delivery.
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High
1.? Media views  Mass Media has higher Mass media has greater impact on people life, so AA
influence among the can take advantage to position itself among the
people of Australia prospect future consumer through higher advertisement
and promotional activities on mass media, there is high

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 media reach in Australia.

Low
2.? Religious groups Catholic 25.8%, Anglican Religious diversity can have light affect the people
18.7%, Uniting Church buying or spending habit. In order to meet the customer
5.7%, Presbyterian and need, AA can have few changes as required.
Reformed 3%, Eastern
Orthodox 2.7%, other
Christian 7.9%, Buddhist
2.1%, Muslim 1.7%, other
2.4%, unspecified 11.3%,
none 18.7%.
High
3.? Demographics As per 2009 Market structure is good for AA, we can analyze the
Population: 2.1 million given information and state that 67.9% of people are
Age: 0-14 years: 18.6%, within age group of the prime customer, consumer
15-64 years: 67.9%,65 from the market can be easily targeted as the market
years and over: 13.5% has larger homogenous race of people. Family size is
Race: white 92%, Asian nuclear, we can be assured that people of Australia
7%, aboriginal, other 1% would be having high expense and they wouldn¶t save
Family Size: Nuclear much of their income. So Australia is a favorable
Family Structure with 2.5 market.
people per household.

High
4.? Education u
 
 age 15 and Since the customer is highly educated, AA should
over can read and write. provide detail information¶s regarding their products
4.5% of GDP is and service, and it also has higher advantage in terms
contributed to Education. of operation as it can have skilled and well educated


  
 99% employees. New management concept and technology
 99% ,  99% of taking operations can be implemented and practiced
for better efficiency.

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5.? Immigration/emigration
6.? Health
7.? Living standards
8.? Attitudes to work
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High
Every year 0.2 million
people immigrate to
Australia.
High
As per 2008, Australia
spends approx 10% of its
GDP for health care of its
citizen. Australia has
health care system called
Medicare, which gets
funded by the 1.5% if the
income tax. Life
expectancy of Australia is
81.63 years;  79.25
years; f 84.14 years.
As per 2008, Australia has High
Purchasing Power Parity
$39,000.
High
Australians are flexible to
work. People have proper
balance between their work
life and their personal life.
Every year number of consumer is increasing because
of increasing number of immigrants, so AA can
capitalize on capturing new markets and new
customers. This is positive traits for AA since it operate
on maximization of sales.
Life expectancy of Australian is higher, where business
had diverse customer in terms of age group.
Employees tend to be less absence, as employees in
Australia are less prone to disease. As conclusion we
can say that employee¶s productivity can be high.
Australia has higher purchasing power parity, which is
good for business to determine customer purchasing
power. But AA is low budgeted airline; most of the
consumer would like to use traditional Full Service
Flight to enjoy better service.
Attitudes to work of Human resources, defines how
organization operation is affected and how to work
with people. Managers in AA should work with in
employee in parallel terms being more focused on team
work.

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 High
9.? Staff attitudes Lower power distance and
higher authority shall fail.
Power distance is 36
compared to world average
has 55.
AA should practice decentralization the authority, to
achieve its objectives and optimize the use of available
resources from sound management as per its
employees.

High
10.? Management style Democratic and AA should adjust to Democratic and consultative style
consultative style of management, within Australia. Doing so shall increase
management is highly the productivity of the overall organizational employee
preferred. in Australia as highly concern with work and
management style that is practiced.




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1.? Research funding
2.? Intellectual property issues
3.? Energy uses/sources/fuels
High
Total expense for
Innovation, Industry,
Science and Research was
Aus $312 for year 2009.
High
The current value of
intellectual property in
Australia is over $30
billion. Australia defends
those properties that are
notably within WTO.
High
Australia Consumer energy
worth $ 50 billion, every
year. Electricity usage: 222
b kWh, oil usage: 953,700
AA can take benefits from the research programs of
Australia for better technologies and use of new
management and operation in its organization to be
more competitive and productive in international
market.
When AA, develop new concepts technology for its
better operation in its organization, the company can be
sure that its ideas shall be protected, and company gets
more effective and efficient.
AA highly depends on the availability of energy either
that be oil or electricity. AA should prepare for itself
for advance technology that reduces less energy or
some alternative to current energy requirements.

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4.? Communications
5.? Transportation
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bbl/day, Natural Gas : 34.2 Australia has good access to energy, so AA won¶t have
b cu m any problem regarding the availability of energy.
High
Australian domestic AA is budgeted airline, since most of it sales is made
networks consist of fiber- by internet and mobile SMS, Australia has good
optic, wireless, and information communication infrastructure which is
satellite. Telephone user, good. AA cost cutting strategy to reduce the agent cost
landline: 9.37 m, Cellular: can be implied as 22.12m are cell phone user and half
22.12 m, Radio, AM: 262, of the population has access to internet.
FM: 345, T’ Station: 104,
Internet User: 15.7 m user.
High
Australia has Road : AA can take benefits from proper transportation
913,000 km, Railway: infrastructure of Australia to better perform and serve
33,819 km, Pipeline its passenger in maximum way.
system:27000 km,
Airports: 464 Sea port: 14
major sea port


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$? Ecological  Australia is a large island Medium
continent and is one of the
most biologically diverse
countries in the world, with
a large portion of its plants
and animals and
ecosystems found nowhere
else. About five percent of
Australia is national parks
Australia can be good market place for AA from the
point of Tourism industry, because of Australia unique
bio diversity, its ecosystem, its national parks and other
ecological aspect. For AA, it is good opportunity to
take to provide service and increase their sales by
serving foreign visitors or tourists.

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 that provide excellent
places from which to
experience such diverse
habitats as rainforests,
deserts, coral reefs and
woodlands, and the plants
and animals that inhabit
them.

2.? Environmental issues International: Global Medium While operating in Australia, AA has to consider not
i.? International Warming having negative impact on environmental issues of
ii.? National Australia and support Australia¶s campaign regarding
iii.? Local  National: Marine
conservation, Native fauna, environmental issues.
Ocean dumping, oil spills,
whaling.
Local : Mining and Waste
Management

3.? Environmental Current environmental Medium AA, should have system, what uses recycled things,
issues touches issues such as paper, plastic and other resources that doesn¶t
regarding natural resources have negative impact and shall promote the
are affected by human use environmental issues, that benefits Australia in long-
directly and indirectly. term.

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References
1.? http://www.dfat.gov.au/facts/fta.html
2.? https://www.cia.gov/library/publications/the-world-factbook/geos/as.html
3.? http://www.buyusa.gov/australia/en/overview.html
4.? http://www.amsrs.com.au/index.cfm?a=detail&id=114&eid=13
5.? http://www.australia.gov.au/topics/government-and-parliament
6.? http://online.wsj.com/article/SB125408482571444453.html
7.? http://www.ato.gov.au/corporate/content.asp?doc=/Content/tax_history.htm
8.? http://www.hsc.csu.edu.au/economics/policies_mgt/2592/Topic4Tutorial1.html
9.? http://www.indexmundi.com/australia/gdp_per_capita_(ppp).html
10.?http://www.dfat.gov.au/ip/
11.?http://www.energymatters.com.au/faqs/renewable-energy-faq.php
12.?http://www.unctad.org/en/docs/wir2009_en.pdf
13.?http://www.guardian.co.uk/world/2009/feb/13/dubai-boom-halt
14.?http://www.innovation.gov.au/Section/AboutDIISR/FactSheets/Pages/ForeignDirectInvestmentFactSheet.aspx
15.?http://www.unctad.org/sections/dite_dir/docs/wir2008_instock_en.xls
16.? http://www.dfat.gov.au/facts/fta.html
17.? http://www.buyusa.gov/australia/en/overview.html
18.? http://www.amsrs.com.au/index.cfm?a=detail&id=114&eid=13
19.? http://www.defence.gov.au/Army/AHU/docs/PART_3.pdf (regarding war)
20.? http://www.australia.gov.au/topics/government-and-parliament
21.? http://online.wsj.com/article/SB125408482571444453.html ( Govt leadership)
22.? http://www.australia.gov.au/topics/defence-and-international/international-relations ( inter country Relations)
23.? http://www.tradingeconomics.com/Economics/Unemployment-rate.aspx?Symbol=AUD ( un employement)
24.? http://www.dfat.gov.au/aib/competitive_economy.html ( Economic Structure)
25.? http://www.ato.gov.au/corporate/content.asp?doc=/Content/tax_history.htm ( Tax rate)
26.? http://www.business.nsw.gov.au/aboutnsw/climate/A14_corp_tax_rates.htm ( Corporate Tax rate)
27.? http://www.hsc.csu.edu.au/economics/policies_mgt/2592/Topic4Tutorial1.html ( Monetary Policies)
28.? http://www.abs.gov.au/ausstats/abs@.nsf/mf/6523.0 ( disposable income)
29.? http://www.indexmundi.com/australia/demographics_profile.html ( demographics)
30.? http://www.immi.gov.au/media/publications/statistics/immigration-update/update-jun09.pdf ( immigration)
31.? http://www.indexmundi.com/australia/gdp_per_capita_(ppp).html
32.? http://www.ato.gov.au/budget/2009-10/content/bp2/html/bp2_expense-20.htm( For techno expense)
33.? http://www.dfat.gov.au/ip/ (intellectual property rights)
34.? http://www.energymatters.com.au/faqs/renewable-energy-faq.php ( Energy Consumption)

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35.? https://www.cia.gov/library/publications/the-world-factbook/geos/as.html ( for many)
36.? http://www.unctad.org/en/docs/wir2009_en.pdf ( FDI)
37.? http://www.guardian.co.uk/world/2009/feb/13/dubai-boom-halt( Dubai)
38.? http://www.innovation.gov.au/Section/AboutDIISR/FactSheets/Pages/ForeignDirectInvestmentFactSheet.aspx ( 2008 Data FDI)

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