Immigrants Boost The Australian Economy In A Big Way

30 Oct 2017

Immigrants are the star in the miracles of the Australian economy.The reason behind the success registered is not because of the commodity super-cycle, or prudent economic management, nor the growth of China, but immigration alone.

More than a quarter almost 28% of the Australian population is born overseas. Australia is a trendsetter and leader for the cause of immigration among the major developed nations. Immigration has pushed the population growth in the country for three decades now. The annual growth of population has overwhelmed the business cycle.

Australia witnessed a recession in 1991 the last time. So far it has escaped the recession even when there was a Global financial crisis. After 1990, the economy of Australia has rallied ahead with a compound 3% rate of annual growth. Compared with the population growth of 1.4% annually, the economic growth has stayed around 1.6% growth annually when per capita growth is the base.

The success of Australia is a miracle based on demography and not on the economy. From 1990 the increase in population was around 8 million and has now touched the mark of 24.55 million as per October 2017. This is a major increase and mainly owes its existence to the increase in immigration. Every minute somebody arrives in Australia.

The sources of long-term immigration are permanent residents and immigrants arriving in the country on subclass visa 457. 190,000 places were allotted to Permanent immigrants every year. Many people arrive here based on the professional skills and some through family reunion.

To find out if you are eligible to immigrate to Australia permanently, fill out a free evaluation form or contact us at [email protected] or call us 1800 103 1555. One of our experts will meet your expectations and provide answers to queries.