Last Updated on March 17, 2021 by Richa Desai
Australia has one of the biggest multi-culture crowd in the country and it hosts a huge number of foreign travellers every year. As time passes, some of them decide to stay back in Australia and apply for Australian Citizenship.
Australia is keen to see the economic success of its immigrants as they a lot to the Australian economy.
Another important aspect of immigration is skilled immigration as skilled labour adds to the working force of Australia. And in turn, this helps to increase the national GDP. The contribution of immigrants to the national income is increasing day by day.
In 2020, before pandemic there were 7.3 million immigrants in Australia.
Contribution of Australian Immigrants in various sectors
Immigrants are contributing to all the major sectors of the Australian economy. Be it education, healthcare or business, immigrants are doing great in every field. Not only these but immigrants are also a part of Australia’s defence forces. Below is a brief discussion on how immigrants are contributing to the Australian economy and industrial sectors.
Small and medium scale businesses
A large part of immigrants is in the entrepreneurship sector. People find Australia a budding market. People either start working for corporate or establish their own businesses. A survey shows that immigrants are going to add around 200,000 more jobs to the economy. That too within the next 10 years by 2030. Globalization is the key facilitator of this. In Australia, currently, one-third of the businesses are run by immigrants.
A survey conducted by a group of researchers gave out significant results. It says if Australia stops immigration, Australia will not have enough skilled workforce by 2022. This survey shows how important is the migration of a skilled workforce. About 8-million workers have migrated to Australia since World War I. And they are the blood of Australia now. They help to run the big economy.
As of now, more than 50% of healthcare professionals in Australia are from abroad. More than 50% is a big chunk.
These healthcare professionals are from South Asia, India, the Philippines, Indonesia, and other countries. It is easy to imagine their contribution to the national income of Australia. This also helps the government in the allocation of national income.
Since most of the medical practitioners are immigrants from abroad, the government doesn’t need to spend much on medical education. This saves the government a huge amount.
Australia is a large country with small population but with a robust economy. More and more companies want to establish themselves in Australia. But this depends on the consumer market they get.
Immigrants not only increase consumption but also take part in the skilled workforce.
Immigrants are a big chunk of consumers in the Australian economy. Without them, the demand cannot meet the supply.
Another reason for the Australian immigration policy is to deploy the skilled workforce in defence. A large chunk of immigrants joins the Australian Defence Forces every year. The young immigrants are excellent candidates for defence forces. They join defence forces, border forces, state police, etc.
Getting Australian Citizenship is a must to join its Defence Forces. An immigrant has to get citizenship before applying for higher positions in these economic sectors such as defence.
Dependence of Australia on immigration
Since world-war time, Australia has been largely dependent on immigration. From then on, Australia has long term planning for immigration. They make their national policies accordingly. As noted earlier, a major part of the workforce of Australia is immigrants.
According to the MCA report, the workforce population of immigrants would move up to a 16% rise. And this workforce would be contributing $1.6 trillion to the Australian economy. Hence, there is an entire system behind this multi-culture economy.
Australia thereby has one of the highest numbers of immigrants in the world. This long term strategy by the government is changing Australia’s fortune. Also, a major aspect of immigration is the contribution of immigrants. Immigrants’ contribution sets off the expenses incurred on them. This bridge is helping Australia to prosper.
Contribution by Immigrants to Australian GDP
Gross Domestic Product (GDP) is the price of all goods and services produced by an economy in a year.
It is estimated that by 2050, immigrants in Australia will contribute $1.6 trillion to its GDP. Every year, immigrants from other nations in Australia add a big 1% to the Australian GDP. And this percentage is going to increase in a couple of years.
Australian GDP is increasing due to the immigration of its skilled labour. Hence, the immigration policy of Australia is designed accordingly.
Migrants have increased the employment rate to a big 35% in the Australian economy. Not only that, the tax revenue that Australian governments receive from them is also huge.
Giving up on immigration is a very bad idea for Australia.– MigrateOZNZ
Recently a policy of cutting down on immigration was on the table. It was heavily criticized by economists and the Australian Government had to drop the idea. This is because the Australian economy is very much dependent on them.
Through the above discussion, it is evident that the Australian economy depends upon immigration. This immigration has also helped in promoting Australian education and businesses worldwide. This cross-culture encourages overseas students to come and study in Australia.
Apart from that, diversity is also lucrative for big multinational corporations. Australia facilitates all this. Its policies are made while considering this cross-culture. Australia continues to promote immigration. They are further planning to channelize this force in various sectors of the economy. Hence, Australia is a great place for refugees and other migrants.
It is easy for migrants from war-ridden countries and developing countries to settle in Australia and start a new life. They get help from the local government to settle down. With all this in mind, it is evident that Australia is going to grow as a multi-culture economy in the coming years. And hence the contribution of immigrants would continue to grow.