The Australian Government has announced a doubling of the approved migration numbers outside of the annual budget forecast for the 2021-2022 period and beyond. For the years 2021-2023, the Government will approve approximately 180,000 new migration places for Australia each year, bringing an unprecedented number of approved visa holders to Australia. Coupled with business and investment, student visas, family reunion and travel it certainly looks set to be the busiest period on record for the country.
With a focus on unemployment rates and return to post covid levels of business activity, it makes sense for the Aussie Government to return to what they know works for ensuring the economic success of the country. This forward planning approach comes after warnings from businesses, economists and statisticians that the country looks to lose a further 1.5 million people from the country over the following 10 years in its forecast net migration figures.
The Treasurer Josh Frydenberg said, “In meetings last week with businesses representing almost every sector of the economy, the most pressing issue raised was workforce shortages and the need to reopen our borders, allowing skilled migration to recommence.”
What is certain, is that Australia will not be the only country vying for skilled migration. With an unprecedented number of workers in demand across modern economies, the tide has finally turned in favour of the skilled migrant applicant, with countries such as Canada, Europe and more, announcing a significant increase in approved place.
Along with the increase in migration numbers to significantly higher levels, the Australian Government has also announced an increase in appetite for investment from foreign nationals and entities. With recent strong growth in foreign investment and business development in Australia, the desire to boost investment to assist in creating a strong fiscal framework makes sense when coupled with migration growth.
Australia looks set to be back to the boom times of the last great mining boom of 2008/2009. If there is one thing this country knows well, that is how to protect itself and its residents from sudden financial downturns affecting the global economy. In 2008, whilst the rest of the world struggled with the Global Financial Crisis, Australia was benefiting from the mining boom and was able to boost economic growth through the same period, only ending in the recent COVID-19 crisis.
Now is the time. If you have a desire to go to Australia, or have started the process and need some guidance, then we are here to help. Visa Advice is experienced at helping people take advantage of changes in the migration program and get themselves to Australia quicker than they thought possible.
To find out how we can help you, your friends, or relatives succeed in Australia, please contact us for a confidential discussion. Email email@example.com to set up a call.