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Since the recession "Australia had to have" (P. Keating) in the early 1990s, the Australian economy has not suffered a recession or "trough" in the business cycle in 13 years. Even the downturn of the early 2000s did not affect its consistent GDP growth. As of October 2004, unemployment had fallen to a level of 5.2%, the lowest level since the late 1970s.

This picturesque little city of Hobart in Tasmania is a busy seaport, notably serving as the home port for Australia's (and France's) Antarctic activities. It supports several other industries (notably including a high-speed catamaran factory and a zinc smelter) as well as a vibrant tourist industry. Visitors come to the city to explore its historic inner suburbs, to visit the weekly craft market in Salamanca Place, as well as to use the town as a base from which to explore the rest of Tasmania.

Traditional "high culture" gains small attention from much of the population, it thrives nevertheless, with excellent galleries (even in surprisingly small towns); a rich tradition in ballet, enlivened by the legacy of Dame Margot Fonteyn and Sir Robert Helpmann; a strong national opera company based in Sydney; and good symphony orchestras in all capital cities--the Melbourne and Sydney symphony orchestras are said to be worthy of comparison with any.

Van Diemen's Land (i.e. the present day Tasmania) was settled in 1803, and became a separate colony in 1825. The rest of the continent, what is now Western Australia, was formally claimed by the United Kingdom in 1829. Following the spread of British settlement, separate Colonies were created from parts of New South Wales: South Australia in 1836, Victoria in 1851 and Queensland in 1859. The Northern Territory was founded, as part of the Colony of South Australia, in 1863.

Sydney boasts a full roster of musical, theatrical and artistic activity throughout the year, from the formal - including the Sydney Symphony Orchestra, the Sydney Theatre Company, the Sydney Dance Company, and the Archibald Prize - to festivals, including the Sydney Festival, a celebration of free performances throughout January. Many internationally known Australian rock bands have had their conception in Sydney, from Midnight Oil to INXS.

The exact date of the first human habitation of Australia is still a subject of considerable research. There is strong scientific evidence for a presence around 50,000 years ago, a period of massive ecological upheaval in Australia which is believed to be consistent with human colonisation. However, there is some speculation about considerably earlier arrivals, even as far as 100,000 or more years ago. These first Australians were the remote ancestors of the current Australian Aborigines, and arrived via land bridges and navigation of significant sea crossings from present-day Southeast Asia.

Australia is a constitutional monarchy, with Elizabeth II reigning as 'Queen of Australia'. In 1999, a referendum was held on the question of constitutional change to a republic, with an appointed President replacing the Queen as head of state, but this was rejected. Various surveys held before and since the referendum suggest that the majority of Australians favour some form of republic, and hence many people ascribe the negative result of the referendum to dissatisfaction with the particular republican model that was proposed.

Australia has had a significant school of painting since the early days of European settlement, and Australians with international reputations include Sidney Nolan, Russell Drysdale, and Arthur Boyd—not to mention the prized work of many Aboriginal artists. There are excellent art galleries (even in surprisingly small towns); a rich tradition in ballet, enlivened by the legacy of Dame Margot Fonteyn and Sir Robert Helpmann; a strong national opera company, Opera Australia, made prominent by the world renowned diva Dame Joan Sutherland; and symphony orchestras in all capital cities, in particular the Melbourne and Sydney symphony orchestras. In ths field, conductor Sir Charles Mackerras has achieved international renown.