You’d never believe how many people are coming to Australia

Australia’s population keeps growing.

Permanent and long-term arrivals into Australia totalled 844,960 over the year to November, up 2 per cent from a year earlier, but just a notch lower over the past two months.

Net of departures, total arrivals were around 297,000, implying population growth of around 380,000 or 1½ per cent after accounting for natural population growth (births minus deaths).

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Asian century

Tourism was still romping along until November, on the back of the Asian century.

coronovirus property market australia
And short-term international education arrivals hit yet another record high at 619,100 over the year to November.

Unfortunately, the raging bushfires will blast a $1 billion hole in the tourism figures, blowing yet another hole into the ailing Aussie economy.

The growth in short-term arrivals over the year to November was driven by Victoria (up 6 per cent year-on-year) and Tasmania (up 8 per cent).

There’s been a fairly sharp drop in short-term arrivals from Hong Kong as the unrest and demonstrations continued.

There’s less tourism from Hong Kong, but plenty of capital is winding its way back to Australia.

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Pete Wargent

About

Pete is a Chartered Accountant, Chartered Secretary and has a Financial Planning Diploma. Using a long term approach to building businesses, investing in equities, & owning a portfolio he achieved financial independence at the age of 33. Visit his blog


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