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Hobart is internationally famous among the yachting fraternity as the finish of the Sydney to Hobart Yacht Race which starts in Sydney on Boxing Day (the day after Christmas Day). The arrival of the yachts is celebrated as part of the Hobart Summer Festival, a food and wine festival beginning just after Christmas and ending in mid January.

Sydney is the capital city of the Australian state of New South Wales and Australia's largest and oldest city, founded in 1788.

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.

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.

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.