There is a lot of GA in Australia but almost no GA in Europe... but what is the better choice to start with when it comes to getting the first job? Especially when both markets are apparently saturated with pilots...
There is no easy answer, it depends on you, what you are expecting, what you can afford...
If you insist to have an advice, here it is: if it were me, I would choose australia, without any hesitation, for those reasons:
1-Australia, (along with Canada), is one of the few countries that still respect the natural evolution of the pilot, and still have overall some honesty towards its pilots, from the little fish bush operator on C210 up to Qantas on A380/B747. Experience is better, for your skills and for the interest of it.
2- you can access your first job without Type Rating, without MCC, even sometimes without IR. Sure the pay is very low at the begining, but you won't have any debts, because good saving are enough to pay for a basic CPL (instructor rating doesn't hurt) in a small flight school.
3- in Australia-the same in canada....- you can find some small flight school that may give you an instructor job or bush job (won't give any name), it does exist, it is up to you to find this kind of flight school with a bush component, and accept to move to a place far away from the big cities.
4- Australian GA includes PNG, for different reasons... Further more Australia is close to Asia...