growth

Slower population growth in Australia is good for the economy, says bank report

by mfafadmin on July 27, 2016

in Australia

Australia’s population growth has stabilised at 1.4% per annum but this is down compared to the 2.2% recorded in 2008, according to new data.

This is positive news for the nation’s economic outlook, according to the report from investment bank UBS which also shows that fewer immigrants are moving to Australia but more Australians are leaving.

population growthA breakdown of the figures shows that the number of Australians leaving the country has jumped from 256,000 to 306,000 since 2012 while the number of immigrants was down by 10,000 per annum between 2012 and 2015.

The report, which analysed recent data from the Australian Bureau of Statistics (ABS), points out that the population growth rate had fallen from a high of 2.2% in 2008, before the global financial crisis, and a more recent 2012 peak of 1.8%.

The report explains that most of the slowdown in population growth had actually come from increased emigration. ‘Slowing in net migration has been almost entirely due to a pick-up in Australians migrating offshore, with a record 306,000 Australians migrating outbound in 2015, rather than fewer inbound permanent migrants,’ it says.

There was a 10,000 strong fall in the number of immigrants between 2012 and 2015, to 483,000 per annum, but a marked 50,000 strong rise in the number of Australians departing the country and the report adds that a slowing birth rate and slightly increasing death rate due to an ageing population in recent times has affected population growth.

It also points out that Australia’s population growth remains high by international standards, and the stabilisation means it will no longer be subtracting from gross domestic product (GDP) growth as happened in previous years, most notably 2013/2014.

However, once short term student arrivals which are not counted in the population figures are included, Australia is likely to be seeing a renewed GDP boost from population increase as the ABS figures exclude students doing shorter term courses of a year or less.

It also explains that while tourist and business visitors, also excluded from the ABS data, would rarely increase the demand for housing, appliances, utilities and the like, it is more likely short term foreign students staying for a nine to 10 month study course would.

‘This suggests short term students, while not truly ‘population’, could have a more significant positive impact on demand for goods and services in the economy, more akin to the resident population,’ the report adds.

The UBS study also pointed out that a jump in tourist numbers due to the falling Australian dollar is also likely to be providing an economic boost, with a growing number of people now on Australia’s shores at any point in time.

{ 0 comments }

Thumbnail image for Voters think overseas immigration to Australia is too high, poll shows

Voters think overseas immigration to Australia is too high, poll shows

May 25, 2016 Australia Immigration

More than half of voters believe immigration to Australia over the past 10 years has been too high, according to a new poll. The Essential poll, commissioned by television station SBS, found 59% of people born in Australia think immigration is too high and 60% of those born overseas also thought the level of immigration […]

Read the full article →
Thumbnail image for Demand in property and construction pushes up job opportunities in Australia

Demand in property and construction pushes up job opportunities in Australia

May 19, 2016 Jobs in Australia

New jobs adverts in Australia are increasing which means more job opportunities in the country with real estate and construction showing the biggest overall rise in demand. There were 2.7% more new roles advertised on SEEK in April compared with the same month in 2015 and while the rate of growth has slowed, the trend […]

Read the full article →
Thumbnail image for Latest data shows Australia continues to be popular with visitors especially from Asia

Latest data shows Australia continues to be popular with visitors especially from Asia

April 21, 2016 Australia Travel

Australia continues to prove popular with people from all over the world with the latest data showing that there were 796,700 international visitors during February 2016. This is an increase of just over 10% compared to the previous year, according to the figures from the Australian bureau of Statistics (ABS) and tourism officials believe that […]

Read the full article →
Thumbnail image for Marketing job opportunities being created in Australia, says new guide

Marketing job opportunities being created in Australia, says new guide

June 11, 2014 Australia

If you are looking for a new job in Australia then marketing, engineering and operational management departments are likely to see the most new openings for permanent staff in 2014. Some 56% of companies in Australia expect to increase permanent staffing levels in their marketing departments, according to the 2014 Hays Salary Guide. It also […]

Read the full article →
Thumbnail image for Workers moving to Australia likely to see lower wage rises this year

Workers moving to Australia likely to see lower wage rises this year

June 5, 2014 Australia Immigration

Expats moving to Australia can expect slower salary increases in the coming year, with only those in high demand roles likely to see their wage packets increase more than 3%. Unless you are in a high demand role, the average salary increase is forecast for less than 3% in Australia, with cost pressure putting the […]

Read the full article →
Thumbnail image for Mining projects in Australia attracting skilled overseas workers

Mining projects in Australia attracting skilled overseas workers

April 24, 2014 Australia

One of Australia’s largest mining projects is attracting hundreds of applicants for certain positions and also proving popular with skilled overseas workers. The Roy Hill iron ore mining, rail and port project in the Pilbara region of Western Australia has received more than 5,500 applications for work since December, according to chief executive Barry Fitzgerald. […]

Read the full article →
Thumbnail image for Melbourne projected to become Australia’s biggest city

Melbourne projected to become Australia’s biggest city

April 3, 2014 Australia

More people than ever are living in Australia’s major cities and they are projected to see their populations jump even further in the next 40 years with Melbourne becoming the largest city. New figures from the Australian Bureau of Statistics (ABS) shows that the nation’s state capitals packed in more than three times as many […]

Read the full article →
Thumbnail image for Recently arrived immigrants happy with their new life in Australia

Recently arrived immigrants happy with their new life in Australia

March 25, 2014 Australia

People who have arrived recently to live and work in Australia are positive about life in the country but there are occasional pockets of dissatisfaction and some racism, according to new research. The latest Mapping Social Cohesion Research report, which is Australia’s largest study of attitudes to immigration and cultural diversity focuses on skilled and […]

Read the full article →
Thumbnail image for Migrants in Australia favour life in its two biggest cities

Migrants in Australia favour life in its two biggest cities

March 18, 2014 Australia

It is the lifestyle in Australia that attracts hundreds of thousands to emigrate every year but it seems that most of them also like the big lights of the city. Those from overseas are more likely to live in major urban areas, with half of all migrants living in Sydney or Melbourne according to the […]

Read the full article →
Thumbnail image for Northern Australia development could create new booming region

Northern Australia development could create new booming region

March 14, 2014 Australia

The government’s vision for developing northern Australia is an exciting nation-building opportunity that, if managed well, can help provide the whole country with a more prosperous and secure future, it is claimed. According to the Business Council of Australia developing the region will create jobs and provide a high quality of living for people in […]

Read the full article →