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Adelaide hosted the Formula 1 Grand Prix from 1985 on 1995 on a street circuit in the city's eastern parklands. The Formula 1 Grand Prix became a source of pride and losing the Grand Prix to arch-rival Melbourne under questionable circumstances left a void that has since been filled for the most part with the highly successful Clipsal 500 V8 Supercar race event, held on a modified version of the same circuit.

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.

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.

Australia is home to the Great Artesian Basin - an important source of water for people and cattle in the parched outback. This basin is the world's largest and deepest fresh water basin.

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.

The Commonwealth of Australia is a constitutional monarchy: Queen Elizabeth II is the Queen of Australia, a role distinct and separate from her position as Elizabeth II of the United Kingdom, and is considered to be the head of state, although that term is found nowhere in the Constitution or the law. The Queen is nominally represented by the Governor-General - in practice virtually the entire constitutional role of the monarch is performed independently by the Governor-General. Under the Australian Constitution the role of the monarch is almost entirely ceremonial. Although the constitution theoretically gives very extensive executive power to the Governor-General, these powers are virtually never used directly, and are delegated to the Cabinet, whose members are chosen by the governing party or by the Prime Minister alone, from amongst the current members of the parliament.

Emigration now also plays a role in changing Australian demographics. The term, Australian Diaspora, refers to the 850,000 Australian citizens who today live outside Australia. This phenomena is relatively new in Australia's history, estimated as having occurred over the last 40 years. Awareness of this demographic (almost 5% of the Australian population) is growing and supported by government initiates.

English is the main official and spoken language in Australia, although some of the surviving Aboriginal communities maintain their native languages. A considerable number of first and sometimes second-generation migrants are bilingual; languages such as Italian, Cantonese and Greek are spoken in many communities.

Australia's population has more than doubled since the end of World War II, spurred by an ambitious postwar immigration program. In the 19th century, Australia enacted strong measures to prevent immigration by nonwhites. After World War II, immigration from Greece, Turkey, Italy, and other countries increased Australia's cultural diversity. In 1973, Australia officially ended discriminatory immigration policies, and substantial Asian immigration followed. By 1988 about 40% of immigration to Australia was from Asia, and by 1997 Asians constituted about 5% of the population. The indigenous population, the Australian Aborigines and Torres Strait Islanders, make up 2.2% of the population, according to the 2001 Census. In 2001, the political campaign was dominated by issues of immigration and national security and there still remains substantial anxiety among Australians concerning immigration.

Sydney is a significant global and domestic tourist destination and is regularly declared to be one of the most beautiful and livable cities in the world, admired for its harbour, beautiful coastline, warm and pleasant climate and cosmopolitan culture. Sydney significantly raised its global profile in recent years as the host city of the 2000 Summer Olympics. The city's name is pronounced "SID-nee".