Net Migration is in significant decline in Australia and migrants are beginning to question their long term futures due to the border restrictions down under.
Since March of 2020, more than 500,000 migrants have left Australia as there is increasing interest in countries like Singapore, the United Kingdom as well as Canada. This statistic was based on a report released by the Australian Parliamentary committee on migration.
The Australian government shut its borders in March, 2020 which culminated in a massive egress of skilled migrants creating a major labour vacuum.
Before the outbreak of the pandemic, the Australian population was experiencing a growth of around 200,000 annually. The reverse has been the case over the past 18 months.
Net migration in Australia has fallen by 70,000 persons in the last fiscal year and is expected to drop by 20,000 this year. The prognosis by the Australian Federal government’s Centre for Population is that positive migration is set to return by the 22022-2023 financial year.
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