Australian immigration and baby boom boost population and aid economic recovery
September 18 2009 by Matt Jones
Australian immigration and babies aid economy
Australia’s baby boom and high levels of skilled immigration are keeping the Australian economy healthy and helping it to avoid the worst effects of the recession.
According to the Treasury Intergenerational Report the Australian population is predicted to grow 62% over the next 40 years instead of the previously predicted 35%. This is due to the current baby boom and high levels of immigrants making the move to Australia.
A large number of the migrants passing through Australian immigration are skilled workers. This fact, coupled with the increased demand for various goods created by the increase in babies has helped the Australian economy to steer clear of the worst of the recession. It is predicted that these factors will continue to contribute to keeping Australia’s economy healthy in the years to come.
But the Australian economy is not completely safe. The Chinese economy, which actually grew during the recession, has been buying significant amounts of Australian mineral exports. There is concern that the Chinese demand for these mineral exports will dry up without being replaced by demand from elsewhere.
Overall, the Australian population growth rate is at 2%, which is four times higher than that of the other G7 counties. More good news comes from a separate report that has predicted Australia’s population will age less rapidly than previously thought, with less than a quarter of the population being over 65 in four decades.
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