Business Opportunities
The economic structure of Australia's Northern Territory is different from that of other parts of Australia, which means the Northern Territory offers a range of unique business opportunities.
The Northern Territory has an abundance of natural resources and tourism attractions, a comparatively large public sector, a large defence presence, substantial mineral, oil and gas projects under way and a relatively young, multicultural society.
Mining is the most significant industry in the Northern Territory, accounting for 21.9 per cent of Gross State Product in 2002-03. The Northern Territory's most significant mineral resources include Australia's third-largest bauxite mine near Gove, the world's third-largest producer of manganese ore at Groote Eylandt and one of the world's largest known zinc, lead, and silver ore bodies at McArthur River.
Tourism is the second highest income generator in the Northern Territory economy after resource development, and is the Northern Territory's largest private sector employer. The Northern Territory attracts visitors from across Australia and around the world because it is seen as a safe and attractive destination. Visitors to the Northern Territory spent $1080 million in 2002-03.
Australia's Northern Territory has a number of significant business opportunities generated by the development of the AustralAsia Trade Route and completion of the AustralAsia Railway linking Darwin in Australia's north to Adelaide in the south.
Darwin is becoming an important supply and service base for major energy projects worth billions of dollars in the Timor Sea and for many large mining operations in the region. The Timor Sea, off the Northern Territory coast, is developing as a world-class oil and gas-producing province.
Strategic work by the Northern Territory Government has capitalised on Darwin's position close to Asia. The Northern Territory and Darwin, its gateway port, have strong trade, tourism and cultural connections with Asia. Territorians visit Asia more frequently than other international destinations, and Darwin especially has strong demographic Asian and Chinese influences. The business climate is conducive to Asian-style restaurants, street markets, and small business servicing the tourism and retail sectors.
The Northern Territory's agribusiness sector boasts strong growth and provides excellent opportunities for development in agriculture, horticulture, livestock, wild seafood, aquaculture, irrigated crops, tropical fruits and Asian vegetables. Opportunities also exist in processing and packaging, and the provision of cool-chain and supply-chain management and logistical support.
The Australian Defence Force's significant presence in the north has boosted the Northern Territory's economy and provides ongoing business and employment opportunities for supply and support services.
Small business accounts for 54.1 per cent of employment in the Northern Territory private sector, higher than any of the Australian states and second only to the Australian Capital Territory.
There is high demand in Northern Territory for skilled and semi-skilled labour in a number of industry sectors, notably food, hospitality and tourism, health, sales, and the cleaning and clerical sectors.
More information on the Northern
Territory economy
More information on development
in the Northern Territory
More information on the tourism
industry in the Northern Territory
Last updated on the Thursday 26 Mar 2009
