Northern Territory Australia
Australia's Northern Territory is located in the north and central part of the mainland continent. The state is bordered by the Timor Sea, Arafura Sea, and Gulf of Carpentaria on the north. On land, it is surrounded by Western Australia, South Australia, and Queensland.
It has a large area of over 500,000 square miles, which makes it the third largest Australian state. Its population, however, is sparse, as just 230,000 people reside there. This makes it the least populated state.
The capital, Darwin, is the most populated city, with around 70,000 people. The next two largest cities are Alice Springs and Palmerston. Both have populations around 20,000.
Business in Northern Territory
The state's economy is largely driven by mining, a traditionally strong industry throughout the whole continent. Mining brings in more than 2 billion Australian dollars each year.
If you're looking for a business for sale in the Northern Territory, mining may present the best opportunity.
Recently, the economy has continued to grow significantly in comparison to previous years. Due to the mining and resources boom, gross state product per person is higher than any other state.
This region has also experienced noticeable growth in oil, gas, and iron ore exports. Mining operations are also increasingly zoning in on bauxite, manganese, gold, and uranium.
Tourism is also another very large industry in the state. It is a popular destination for both domestic and foreign travelers. Its geography features spectacular rock formations, waterfalls, a vast array of wildlife, and aborigine tribes.
Tourism accounts for more than 1 billion Australian dollars in income each year. Many of the popular tourist destinations are known well throughout the entire world. This ensures tourism will be a strong part of the Northern Territory's economy in the future.
Like other Australian states, the public and defense sectors also make up a large part of the state's economy. About $1.6 billion Australian dollars are contributed to the gross state product through the public sector each year.
The state also has a fairly large retail sector. This sector contributes 746 million Australian dollars each year to the gross state product.
If you're looking at selling a business in the Northern Territory, it is best if you have one related to the mining industry. If buying a business in the Northern Territory, you might look at the mining, public service, or manufacturing industries.
About the Author
This Wiki was written by Andy White, CEO of Biz Trader .