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Australia has a prosperous Western-style capitalist economy, with a per capita GDP at the level of the four dominant West European economies; its developed market economy is dominated by its services sector (65% of GDP), yet it is the agricultural and mining sectors (7% of GDP combined) that account for the bulk (58%) of Australia's goods and services exports.

The first English explorers were Willem Dampier on the west coast of the continent in 1688, and Lieutenant James Cook who, in 1770, claimed the eastern two-thirds of the continent for Britain, despite orders from King George III to first conclude a treaty with the indigenous population. His report to London that Australia was uninhabited (see Terra nullius) provided impetus for the establishment of a penal colony there following the loss of the American colonies.

The Perth city skyline displays the economic prosperity the state has enjoyed in the past 20 years. The city's tallest building, Central Park, is the fifth tallest skyscraper in Australia (not measuring spires).

Despite the best intentions of government health schemes and cultural marketing initiatives, the traditional Australian palate is amply serviced by an extensive takeaway food industry.

Adelaide is often referred to as the 'City Of Churches', although this is a reflection more on Adelaide's past than its present. Rumour has it that for every church that was built in Adelaide, a public house was also built to serve the less pious.

Although Australia has scarcely more than two persons per square kilometer of total land area, this raw figure is highly misleading: most of the continent is desert or semi-desert and of no agricultural value. In consequence, Australia is one of the world's most urbanized countries: less than 15% of the population live in rural areas.

Australia's myths originate in the outback, in the drovers and squatters and people of the barren, dusty plains, yet very few Australians live in the outback, or even in the milder countryside that is never more than an hour or two's drive from the cities in which they live. This was true even of the Australia of a century ago - since the gold rush of the 1850s, most Australians have been city-bound. Nevertheless, after a century or more spent absorbing the bush yarns of Henry Lawson and the poetry of Banjo Paterson from the comfort of armchairs in the suburbs, the myths are real.