More than 7,000 millionaire migrants entered Australia in just a year
Australia is seeing a surge in millionaires migrating to the country, with the number rising dramatically to 7,260 in the past year. The numbers are boosted by an Asian-led millionaire boom driving investment in Sydney and Melbourne. New figures compiled by the Australian Department of Home Affairs and the Federal Government migration report show a multibillion-dollar investment boost for Australia as the country
Billionaire business Frank Lowy has slammed Australia’s approach to migration
BILLIONAIRE Frank Lowy has condemned Australia’s approach to migration over the past year. In an address to a Sydney audience of politicians and senior business figures last night, the Westfield founder — who fled to Australia from Nazi persecution as a child — urged the country to embrace an “ambitious migration program”. “I have … been disturbed by the negative tone of the debate
Australia’s fastest growing city is about to hit the 5 million mark
Darrian Traynor/Getty Images Sometime today Melbourne’s population will tick over the 5 million mark. Australia’s fastest growing city last year added 125,424 people. This is the equivalent of adding one new Darwin. The population of Melbourne, Australia’s fastest growing city, is today (Monday, August 27) due to reach the five million milestone, just three weeks after Australia’s population hit the 25 million
Pakistani-origin becomes first female Muslim Australian Senator
Mehreen Faruqi, a Pakistani-origin woman today became the first Muslim female Senator to be sworn-in to Australia’s Parliament. Greens senator Faruqi was sworn-in less than a week after crossbench senator Fraser Anning called for curbs to Muslim migration and a “final solution” on immigration policy, The Sydney Morning Herald reported. “I’m here to shake up the status quo,” the 55-year-old Faruqi told reporters in Canberra. “If Senator Anning wants to come and have a chat to
This is what happens when immigrants move to your suburb
MY NEIGHBOURHOOD knows what happens when a large number of immigrants move in. You just have to go 50m from my house to see the consequences. Australia welcomed its 25 millionth resident on Tuesday, with overseas migration fuelling population growth (accounting for 62 per cent). Reserve Bank governor Philip Lowe this week used the 25 million population milestone to laud the economic benefits of immigration. It had
Fresh blood: Australia is still lucky, thanks to our young migrants
Reserve Bank governor Dr Philip Lowe thinks Australia’s strong population growth in recent years is a wonderful thing, and he sings its praises in a speech this week. I’m not sure he’s right. Like most economists and business people, Lowe is a lot more conscious of the economic benefits of population growth than the economic costs. As for the social and environmental costs, they’re for someone
Councils get visa powers to attract migrants as population passes 25 million
Local councils will be enlisted as recruiters for nurses, tradies and farmers to help push new migrants into regional areas under changes to Australia’s migration program that give business sponsorship powers to local government. The changes mean thousands of visas will be tied to living in an area rather than a particular employer as Canberra wrestles with a regional skill shortage and Melbourne and Sydney
Overseas migration to Australia hits record high
CANBERRA: The number of people arriving in Australia as migrants has hit a record high, statistics have revealed on Friday. New data released by the Australian Bureau of Statistics (ABS) revealed that 539,000 international migrants arrived in Australia in financial year 2017, the highest-ever figure for a single year. Of the 539,000 people, 315,000 arrived on temporary visas, including 150,000 international students, 50,000 on
States chase migrants to deliver small business boom
Cashed up migrants are increasingly driving small business in Melbourne and Sydney as competition heats up for lucrative investment dollars. Victoria is outstripping NSW three-to-one for nominations in the business and innovation visa category, Department of Home Affairs figures show, which requires migrants to invest up to $500,000 in a business in Sydney or $400,000 in Melbourne. There was a 58 per cent increase
Rich South Africans are paying big money to move to Australia
More than 7,260 millionaires emigrated to Australia in the past year, delivering a multi-billion dollar investment boost. This is according to a new report by the Sydney Morning Herald, which found that visa applications in the Business Innovation and Investment Programme had jumped by 74% in 2016-17 up from 5,781 to 9,051. This includes investors with more than AUD$1 million (R9.9 million) in business assets –