Hard to say for sure. 'The Outback' might have some roots in reality, but it's probably not a strictly true account. It could be a fictional story that uses real-world settings or themes to add authenticity.
The Outback you're referring to is not based on actual facts. It's more of a fictional construct, perhaps inspired by various ideas and concepts but not tied to any specific true events or individuals.
It's not based on a true story. The movie was crafted by the imagination of the writers and filmmakers to bring a fun and adventurous tale to the screen. There are no real-life events or people it's based on.