Migrants’ contributions crucial for Australian economy’s growth, shows latest data

Australian economy’s growth

Migrants are making significant contributions to the growth of Australia’s economy, shows new data released by the Australian Bureau of Statistics(ABS). As per the data, median employee income of migrant taxpayers has increased from $49,438 in 2016-17 to $49,412 in the current financial year. Last year, the median employee income of skilled migrants was $59,304, which is much higher than the median income of all Australians. The median employee income of humanitarian migrants was $32,792 during the same period, according to the data.

All these bring to light the fact that the contribution of the migrants for the healthy growth of the Australian economy has been very crucial. The data further bust the myth that migrants are a drain on the country’s economy and government services.

The fact that migrants are earning a higher median income compared to all Australians can be interpreted as migrants are paying more taxes compared to others. Thus they strengthen the economy as the taxes they pay are used by the government to fund hospitals, schools and other public services.

Australia has recently introduced the Global Talent Independent program through which it plans to recruit 5000 high-skilled migrants. The program was launched by Australia with an aim to support the growth of the country’s knowledge economy. Australia has announced extending the post-study work visa rights to international students in the regional campuses of the country. The move aims to retain global talents for the benefit of the country’s economy. As part of efforts in this direction, Australia is also making the Global Talent Employer Sponsored program permanent.

Australia has recently adopted several important steps for promoting  migration to the regional areas of the country. The country has plans to increase the number of visas to skilled workers who are willing to migrate to the country’s regions. Those immigrants who are willing to live in regions outside of Melbourne, Sydney and Brisbane will enjoy priority processing of their applications. Further, international university graduates who reside in these locations will be able to apply for more time in Australia on a post-study work visa.

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