This report documents the first comprehensive analysis in almost a decade of the impact of migration on our key economic indicators and the verdict is conclusive: migration is central to Australia’s future prosperity.
Australia’s projected population will be 38 million by 2050 and migration will be contributing $1,625 billion (1.6 trillion) to Australia’s GDP.
Moreover, migration will have added:
- 15.7 per cent to our workforce participation rate
- 21.9 per cent to after tax real wages for low skilled workers
- 5.9 per cent in GDP per capita growth
Overall, by 2050, each individual migrant will on average be contributing approximately 10 per cent more to Australia’s economy than existing residents.