The 'down-under' garners second place in the 2010 Quality of Life Index as published by International Living Magazine and for good reason, it's safe, wealthy, healthy and offers numerous opportunities for work and play.
Australia is truly a world away from the United States. Due to it's proximity to the rapidly growing and consuming populations of the Asian countries the Australian economy has been largely insulated from the economic downturn in America and Europe.
Australia boasts one of the nicest climates in the world plus a varied and interesting ecology that gives it's inhabitants beautiful beaches, for fun and sun; amazing wilderness for challenge and exploration; the great barrier reef for diving and undersea adventure; and of course a rich a diverse cosmopolitan life in Sydney and Melbourne making them some of the Best Cities in the World to live in.
Although the cost of living in Australia major cities is quite low it would certainly not be considered one of the Cheapest Places to Live.
Australia is an English speaking country with excellent health care and infrastructure. With China and Asia experiencing major growth spurts Australia offers excellent employment opportunities to service those needs in a culture and society where many North Americans will feel right at home. All of this adds up to making Australia the 2nd Best Place to Live in the World.