Just recently, Australian Prime Minister Scott Morrison estimated a 30% drop according to the 2018-2019 figures in the current financial year. However, as a result of the current pandemic, the Prime Minister forecasts this to drop even further to 85% which is expected for the 2020-2021 financial year. These percentages and figures are crucial for the Australian economy and these significant drops could lead to the impact of the coronavirus and its potential to continue into 2021.
“That is a significant change,” Mr Morrison said. However, he goes on to say, “It is not expected to be a long term change in terms of net overseas migration.”
These numbers are overly important to the economic growth and development of Australia in the future. Currently, the Prime Minister and his ministry are discussing these pressing issues, but it is also vitally important to recognize the work and contribution of our migrant and overseas visa holders who live and work in Australia, contributing to our Australian economy.
Did you know that in 2019, Australia’s population grew by 239,600 just from net overseas migration, according to Australian Bureau of Statistics (ABS) data? This net overseas migration number measures how many people enter Australia and how many stay for more than 12 months compared to how many people leave the country for the same period.
Moreover, Australia’s international education market brings approximately $39 billion per year into the economy, making it our fourth-largest industry. Associate Professor Boucher said migration was a key economic driver for a number of reasons.
“Those migrants work, they pay tax, most of them are not a drain on the welfare or health system. They are net contributors, not net takers, unlike Australians,” she said “Because temporary migration comprises the vast bulk of migration into Australia … closing all that migration off is going to have a massive effect.”
What does Migration Centre of Australia think?
Right now, Australia already has a vast wealth of former international students who have Expression of Interest’s (EOI) already on the system. There are also more than 100,000 temporary visa holders who work, live and contribute to the Australian economy. We hope the Government will do more to help our valuable temporary visa holders and migrants during this crisis.
Our Registered Migration Agents at Migration Centre of Australia have been in the migration industry for many years and have helped thousands of clients onshore and offshore. We are trained professionals in Australian Migration Law and we are trusted providers in the industry for our services. If you wish to apply for any type of visa during this time, or you want to know more about your visa options, or you simply require professional migration advice regarding your visa status, don’t let this pandemic delay you any longer. Contact us today on (02) 4626 1002. Alternatively, you can send us an email at info@migrationcentreofaustralia.com.au and we will be ready to assist you.
