Experts are citing immigration as the key to lifting Australia’s economy from the recession created by the coronavirus pandemic.
After 26 years of continuous growth, Australia is facing a significant slump in its economy, with as many as 1 million Australians facing unemployment.
Despite such a large number of Australians on the verge of being left without a job, it is overseas migrants who can help Australia’s economy rise from the red zone it is in.
According to experts, Australia is currently at a high risk of being in a generation’s worth of debt.
One major factor behind this threat is an ageing population.
Merrick Peisley, the principal adviser of the Australian Treasury’s Centre for Population, said Australia’s population growth is set to be the lowest in 100 years due to the coronavirus pandemic, especially with travel restrictions and border closures.
Combined with an already ageing population and not enough working-age people to lead Australia’s economic revival, this only means that the recession is set to continue.
This is where immigrants come in. Immigrants can fill the gap left by the demographic cliff currently facing the country.
Both skilled and semi-skilled immigrants can prove to be useful in nursing homes and the aged-care industry.
In fact, carers were set to be rewarded with new occupations in the skilled migration occupation lists prior to the border closure enforced by the pandemic.
The agriculture industry is another which can benefit immensely from a migration drive.
Immigrants are essential to this industry in getting produce to foreign markets. Without their support, this industry could very well come to a standstill.
Finally, allowing more immigrants to enter Australia and find employment opportunities will lead to more taxes paid, and more income for the government.
During the ongoing crisis, international students have been able to work double the number of usual hours permitted and support the industries.
However, there is no denying the fact that overseas migrants provide one of the most effective solutions for Australia to recover from the economic slump, continue its growth and cement its status as one of the leading migration destinations in the world.