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Migrants to contribute $1.6 trillion to Australia’s GDP by 2050

July 13, 2018 Statistics & Trends No Comments Email Email

A new report shows migrants will contribute $1.6 trillion to Australia’s GDP by 2050. However, research commissioned by international money transfer service, TransferWise, shows that despite majority of Australians agreeing about the benefits of migration, more than half of Australians (55%) still don’t believe it should be easier to migrate to Australia:

  • 75% of natural-born Aussies believe migrants have helped build the country

  • 74% of natural-born Aussies believe that migrants should have a path to citizenship

  • 72% of natural-born Aussies believe migrants have made Australia stronger – economically, culturally and socially

TransferWise’s new report takes an in-depth look at Australia’s demographics, quantifies migrant economic contributions to Australia and reveals what Aussies think of migration and living overseas.

Findings by The Treasury and Department of Home Affairs revealed recent migrants accounted for two-thirds (64.5%) of the approximately 850,000 net jobs created over the past five years. For full-time employment, the impact is even more pronounced, with recent migrants accounting for 72.4% of new jobs created.

Yet, stories of the economic contributions migrants make to the community continue to be untold. To launch the findings of the report, TransferWise has unveiled a new campaign which brings 20 powerful migrant stories from Europe, Asia, Africa, South America and The Middle East to the forefront – the Faces of Australia.

Some of the Faces of Australia include:

  1. Usman Iftikhar – CEO, Catalysr and 2018 Commonwealth Young Person of the Year

  2. Dharmica Mistry – one of the Australian scientists behind a groundbreaking discovery that will make it possible to detect breast cancer through a blood test

  3. Diem Fuggersberger – a former refugee who went from $900,000 debt to multimillion-dollar business in five years

Nicholas Lembo, Australia Country Manager, TransferWise said:

“Australia is a nation of migrants. Half of us are born overseas or are the children of immigrant parents, so being an ‘Aussie’ means many different things for many different people.

“At TransferWise, we believe being Australian is more about recognising where and who we are now and where we hope to go, as much as where we’ve come from.

“We wanted to put a spotlight on what Australia looks like today and the contributions migrants make to our community.”

This isn’t the first time TransferWise has launched a campaign to showcase migrant contributions. In December 2017, TransferWise’s “Aussies Without Borders” mobilised Australia’s tech community to share their migration success stories, in a campaign backed by Victorian Minister for Investment, Innovation and the Digital Economy and Small Business, Phillip Dalidakis.

TransferWise collaborated with Nicola Gray, the founder of the successful New Humans of Australia blog, Rashida Tayabali of Newcomer Magazine and photographer Kurt Tilse, to bring the “Faces of Australia” stories to life.

To read the 20 powerful stories, visit the Faces of Australia website:


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