Australia is a highly developed country and one of the wealthiest in the world, with the world's 12th-largest economy. In 2012 Australia had the world's fifth-highest per capita income, and was identified by the Credit Suisse Research Institute as the nation with the highest median wealth in the world and the second-highest average wealth per adult in 2013. Australia's military expenditure is theworld's 13th-largest. With the second-highest human development index globally, Australia ranks highly in many international comparisons of national performance, such as quality of life, health, education, economic freedom, and the protection of civil libertiesand political rights. Australia is a member of the United Nations, G20, Commonwealth of Nations, ANZUS, Organization for Economic Co-operation and Development (OECD), World Trade Organization, Asia-Pacific Economic Cooperation, and the Pacific Islands Forum.
Although Australia has no official language, English has always been entrenched as the de facto national language. Australian English is a major variety of the language with a distinctive accent and lexicon and differs slightly from other varieties of English in grammar and spelling. General Australian serves as the standard dialect. According to the 2011 census, English is the only language spoken in the home for close to 81% of the population. The next most common languages spoken at home are Mandarin (1.7%),Italian (1.5%), Arabic (1.4%), Cantonese (1.3%), Greek (1.3%), and Vietnamese (1.2%); a considerable proportion of first- and second-generation migrants are bilingual. A 2010–2011 study by the Australia Early Development Index found the most common language spoken by children after English was Arabic, followed by Vietnamese, Greek, Chinese, and Hindi.
Australia also offers scholarship to Indian students.