The Economic Impact Of Migration On The Australian Economy
Immigration has a transformational effect on Australia. We rightly celebrate the social and cultural contributions of multiple generations of migrants.
However for too long, the economic contribution of migration to Australia has been devalued. Claims migrants steal jobs or undermine the labour market blur the public perception. Of course these claims are based on a premise that does not hold up. An economy is dynamic.
In the first analysis in nearly a decade, the Migration Council earlier this year released a report on the economic impact of migration to Australia. The verdict is clear: migration is central to Australia’s future prosperity.
Based on current trends, Australia’s projected population will be 38 million by 2050 and migration will be contributing $1,625 billion (1.6 trillion) to Australia’s GDP. Moreover, migration will have added 15.7 per cent to our workforce participation rate and 5.9 per cent in GDP per capita growth. Without migration, the population would stagnate and our economy would go backwards. (source …show more content…
He will be leading the Economic Growth: What is the Contribution of Migration on Day 1 of Migration 2015.)
Australian immigration has always been controversial. This is partly because Australia has one of the most diverse and, relatively speaking, largest immigration programs of any western nation. Debates about the size and composition of the Australian immigration intake, refugee, 'boat people', ethnic crime and multiculturalism have occurred regularly over the past 60 years.