It’s become a truism in the political sphere that Australia is a nation of migrants, but what this means in practice is rarely discussed.
Aside from the demographic implications of a country receiving much of its population growth from migration, this has an effect on the Australian economy, too.
Over the past decade, much of the country’s growth has come in the form of population growth driving increased demand for goods and services across the economy. The latest ABS figures covering the year to September 2023 show 83% of the total population increase was a result of migration.
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