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Many raw materials (including resources postulated to exist but yet to be discovered) remain mostly unexploited. Australia is often referred to by economists as the "world's farm", but despite this emphasis on the agriculture sector, in recent years the Australian government has been focusing on the tourism, education and technology markets.

News Corporation was founded in Adelaide and its first newspaper was The News which was later merged with The Advertiser. John Fairfax Holdings owns The Sydney Morning Herald, The Age (Melbourne) and the most prominent financial newspaper, The Australian Financial Review. Rural and regional media is dominated by Rural Press Limited, with significant holdings in all States and Territories. Titles include The Canberra Times as well as The Land (New South Wales), Queensland Country Life, Stock and Land (Victoria), Stock Journal (South Australia) and Farm Weekly (Western Australia). Rural Press also has significant holdings in New Zealand and the United States.

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.

Today's Australian cuisine is some of the most diverse available anywhere, due to the many cultural influences. Modern Australian cuisine has been heavily influenced by the country's South East Asian neighbours, and by the many waves of immigrants from there, and all parts of the world. Similarly, Greek, Lebanese and Italian influences are common. Fresh produce is readily available and thus used extensively, and the trend (urged by long-term government health initiatives) is towards low-salt, low-fat healthy cookery incorporating lean meat and lightly cooked, colourful, steamed or stir-fried vegetables.

Since 1996, the Coalition government, led by Prime Minister John Howard, has continued to implement microeconomic reform policies. Some have claimed that the deregulation of the labour market during this period has resulted in a needed flexibility in the labour force. Others have criticised these deregulations as having a negative impact on worker's wages, safety and health grounds. Legislation introduced during this period sought to reduce union involvement and power, and has preferred to emphasise enterprise bargaining (a tendency towards wage bargaining). Also during this period, the Coalition government deregulated numerous other industries, including the telecommunications sector, and privatised many of the pre-existing natural monopolies.

Despite perhaps poetry seeming out of the typical Australian character it played an important part in the founding of Australian literature. Two poets who vie for the position of greatest Australian poet are Christopher Brennan and Adam Lindsay Gordon. Gordon was not born in Australia but the Azores. Despite this he is often called the "national poet of Australia" and is the only Australian with a monument in Poets' Corner of Westminster Abbey in England.

Rainfall in Australia is highly variable, with frequent droughts lasting several seasons. Occasionally a duststorm will blanket a region or even several states and there are reports of the occasional large tornado. Rising levels of salinity and desertification in some areas is ravaging the landscape.