Migration to contribute $1.6 trillion to Australian economy by 2050
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Migration to contribute $1.6 trillion to Australian economy by 2050

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The Migration Council Australia recently released a report ‘The Economic Impact of Migration’ affirming the importance and financial gain that Australia receives from migration. “Migration will be adding $1.6 trillion to Australia’s GDP. So in a single year, about 40 per cent of GDP will be owing, in some form, to the migration program that we run.” Carla Wilshire CEO of the Migration Council Australia is confident that sustaining if not increasing the current migration program will benefit Australia across many aspects. 

Some specific advantages she mentioned included:

Offset Australia’s ageing population: Increasing the intake to 250,000 migrants per year would assist in seeing Australia’s population reach approximately 38 million by 2050. Without this intake Australia’s population will stagnate to 24 million.  

Increase the labour market: Currently skilled entries and combined programs (such as the 457) account for 70 percent of Australia’s migration intake. Continuing along this ratio of intake over the next 35 years will increase the labour market participation by 15%.

Financial gain for the Australian economy: As mentioned previously migration is estimated to add $1.6 trillion to the Australia’s GDP. This in addition to the overall less spend per migrant from government services due to the Visa’s they are applying for will be primarily skilled visas. This inadvertently leads to a lifestyle and attitude of contributing, rather than taking from government services. 

If you have any questions about applying for a Skilled Visa to work and live in Australia, please contact one of our registered migration agents today. 

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