Australian Migration to Only Become Harder in 2009

Australia may be forced to decrease its intake of migrants in 2009 and possibly further into the future. Pressure is rising from the opposition to cut the number of new arrivals before the current financial years end. This pressure is a result of the global financial meltdown, which in turn is forecast to push unemployment rate up in Australia.

This may mean that 2008 may be the best time to commence your Australian migration, so to improve your chances of successfully obtaining a visa.

The opposition for Immigration spokeswomen, Sharman Stone, said “It is important they remain flexible because the most important thing to do is look after Australia's own unemployed”.

Such calls from the opposition seem to be coming from the result of the bigger banks cutting interest rates so to push up spending. The Commonwealth Bank (Australia’s biggest home loan lender) became the third bank to cut rates recently, shaving 0.21% off its standard variable rate fro home loans, thus resulting in repayments on a standard $300,000 loan to be cut by about $42 a month.

The worldwide slowdown is cutting growth in Australia and some economists are now predicting unemployment will surge by 200,000 and hit 6 per cent by the end of 2009.

Australia was battling a general labor shortage earlier this year but now key industries have started to shed jobs, with even the mining industry slowing down.

It is thought that the migrant intake should be re-examined and looked at via skill categories first then on settlement locations before cutting numbers willy-nilly.

MIGRATING TO AUSTRALIA – THERE MAY NOT BE A BETTER TIME

If you have been thinking of migrating to Australia, recent events may be the push you’ve needed to make your dreams a reality. The attractive exchange rate for overseas nationals buying Australian dollars, an economy better placed than most in the developed world to withstand the current turmoil, and the likely tightening of the migration scheme which may make it more difficult to migrate in the future, means there may not be a better time than now for moving to Australia.

In recent months the Australian dollar has collapsed, from a high of almost dollar for dollar with the US to 1US : 0.69AUD, and 1 Euro now buying 2 Australian Dollars. The exchange rate is likely to become even more attractive as the Australian Reserve Bank cuts central interest rates to keep the Australian economy moving.

Just like the rest of the world, the Australian economy is weakening and as the rate of unemployment grows the government will be under pressure to cut skilled migrant intakes. The current Rudd government has announced overnight that next year’s intake of skilled migrants will be lower than this year’s. This policy could be introduced by lowering the maximum number of applications per annum, raising the threshold requirements prospective migrants will need to meet, or indeed both.

Nevertheless, the International Monetary Fund reported yesterday that while the rest of the world enters into a recession, Australia may experience 2% growth. Australia’s commodity boom is likely to slow, but there should remain plenty of opportunity in the mining sector and related occupations, and Australia seems to have a shortage of skilled employees in key areas throughout the economy.

If you are interested in migrating to Australia, it is certainly a time to take some action. There is no doubt that opportunities will begin to decrease in the current economic climate and there is no knowing just how bad the situation could get in Europe, the UK and the United States. Australia will also suffer, however with the exchange rate low and dropping, your savings may well go a lot further in Australia, and if you have the right skills your employment prospects may also be a lot rosier.

For a quick assessment of your options to migrate to Australia CLICK HERE or visit our website: www.noborders-group.com, email our friendly staff: migration@noborders-group.com