Honours vs Master of Philosophy

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I am currently looking into further studies after my undergraduate degree in applied mathematics. I noticed the University of Sydney offers both honours degrees and Master of Philosophy degrees (the latter not requiring prior honours study).

I read this statement in one of their FAQs:

"Each program may appeal to you for different reasons, for instance if you wish to undertake a PhD in Australia, then the Honours program may be a quicker pathway to achieve this, however if you are hoping to undertake a PhD elsewhere in the world, a Masters degree may be considered more valuable, dependent on the relevant country and education system."

In which countries/regions would a Master of Philosophy be useful for, in order to complete a PhD?