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Will Australian Economy Affects By Reducing Skilled Migrants?

Mon, Sep 10 2018

Will Australian Economy Affects By Reducing Skilled Migrants?

Let’s find out!

Many a times, it is often heard that overpopulation is the cause of Migration. Is it really so? Why do people blame migration as the primary reason of depleting resources in Australia? Is it really impacting the country or there is something else, we need to look out for?

Australia is one of the most multi-cultural countries in the world with almost 8% of Australians born overseas. The contribution of migration is one of the reasons of population boom in the country. Be it the gold rush in the 1850’s or the post-war migration boom or the recent arrival of migrants in the mining industry. Australia has thus, have higher share of migrants than most other countries.

You must be amused to know that in every 1 minute and 24 seconds, a person arrives in Australia! Interesting, isn’t it?

In fact, migrants are great contributors to the Australian economy as they have literally taken up three P’s to a whole different level. Here, thee P’s are Population, Participation and Productivity.

How migrants are the prime contributors of Australian economy?

Treasury and Department of Home Affairs released a report in April, 2018 that showed migrants paying more tax. Also, the financial consumption levels of migrants are relatively less. This shows that Australian government are benefiting in billions from the migrant population.

The research showed that permanent skilled migrants contribute $6.9 billion over their lifetimes, $3.9 billion by temporary skilled migrants and $1.6 billion by family stream migrants.

The Australian fertility rate is below the substitute level at 1.9 births per woman. Hence, without migration, the population may diminish and thus, a larger population will not harm the economy of Australia.

If the population increases then it would become cheaper to develop and renew the infrastructure. The numbers shows that the immigrants’ numbers coming to Australia has exorbitantly increased from 90,000 immigrants a year to 190,000 migrants.

The rush in population growth has been raised 1.8 percent in the past 15 years. The higher the population in country (skilled one), the better are the chances of Australian economy to grow and people have more options to buy goods and services.

What are the most famous migration cities for migrants?

Many new migrants coming to Australia head up to larger cities where they can find work. Out of all the cities, the most popular are Sydney and Melbourne. The population levels in Melbourne have sour since 2003 by almost 1 million, and Sydney is not far behind too in terms of population numbers.

Also, the population flow has increased in other areas of Australia as well like New South Wales (NSW) by 31% and Victoria by 23%.

Are jobs easily available for migrants?

Well, it is often said that migrants who have received Australian citizenship are more likely to get employed. This figure is anywhere between 77%. Additionally, 63% of migrants are employed on permanent visa and 59% of migrants are employed on temporary resident visa.

Research also suggests that the migrants have the hardest time to find a job in their initial years of settlement in Australia. The unemployment rate for recent migrants and temporary residents was 7.4% compared with 5.4% for people born in Australia. The migrants having Australian citizenship had an unemployment rate to 3.3% while temporary residents had 8.6% and recent permanent residency migrants had unemployment level of 8.8%.

There is less number of migrants who rely on social security benefits; most of them are hard- working and careful about their work. Statistics have also shown that more people have an entrepreneurial spirit and are likely to set up their own business.

Why is it important to keep migrants numbers in check?

A recent report by the Australian Productivity Commission says by 2055 the people in Australia aged 65 and above is expected to double with less people between 15 and 64 age working.

The migration council of Australia says 250,000 migrants would be required to boost the economic level of Australia to a suitable level of %1.6 trillion by 2050.

The country is in need of more skilled and qualified workers to help and sustain the aged population of Australia. The migrants are real asset to the country and especially thr economy. The new migrants bring financial benefits to Australia. It is not like they are living here for free, in fact they pay in form of taxes to the Australian government.

If you are in awe of Australian Permanent residency, do contact the immigration and visa experts of Aptech Global to know about how to secure future in Australia. The experts can advice you on Australia PR process and its eligibility requirements.

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