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Australia in Need of More Foreign Skilled Workers to Bolster Economy

March 2015, 10
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Foreign Skilled Workers
In a bid to raise the economy, the Australian government has all set to welcome more number of overseas skilled workers from across the globe. As per the new statistics, it’s anticipating to allure nearly 250,000 workers each year till 2050 to surge the country’s economy and living standards.

Such new policies will have a positive impact on the economy by adding around 1.6 trillion dollars. In this new move each immigrant would contribute roughly 10% more than the existing residents donate to the Australia’s economy.

Few of the concerned representatives of Migration Council of Australia consider welcoming more number of skilled workers will have good impact on the population, net productivity, skilled worker’s participation in the fields where the startups are experiencing the shortage and employment. 

Officials further added that immigrants would contribute around 1.6 trillion dollars to country’s GDP by 2050 with 38 million population and 15.7% to  the workforce partaking rate, 21.9% in the form wages for low skilled labors and 5.9% as per capita growth.

A report gives an explanation that within 35 years immigration will boosts the employment growth, as more skilled and highly educated immigrants’ focus mainly on the job and career prospects that are present in the country. 

It further added that the Australian would surely remain as a highly skilled country, as it s expected to enhance the country’s population to 60.4% with the standard university education system and the number of job opportunities.

International students entering the nation for higher studies would initially pay their full education fees, offering a saving to the budget of the existing government. Additionally, immigrants provide a premium bolster to the nation’s economy when compared to the natives. They further lower the income tax rates, through which the tax payers would be considerably higher. 

This new report exhibits the crucial role of immigrants in the steady rise in the economy of the country as well its wellbeing. Chief Executive of Migration Council of the country, Carla Wilshire revealed that immigration reduces the need to find more skilled workers by showing less impact on unwaged individuals.

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