The overseas-born population in Australia grew by 155,000 people in 2022, increasing to 29.5% of the nation’s total population, according to data released by the Australian Bureau of Statistics (ABS).
Jenny Dobak, ABS head of migration statistics, said on Tuesday 31 October, “On 30 June 2022, Australian residents born overseas made up 7.7 million of Australia’s estimated population of 26 million people. This was an increase of 2.1% from 2021.”
“Western Australia had the highest proportion born overseas at 34% while Tasmania had the lowest at 16%, in 2021. Those born in England, India, China and New Zealand were the largest groups of people born overseas nationally, together making up over one-third of all migrants living in Australia in 2022. People born in England continued to be the largest migrant group at 961,000, followed by people born in India, at 754,000.”
The chart below shows how rapidly the Indian-born population has grown over the past 10 years, with others like those from the Philippines, Vietnam and Nepal also growing rapidly in percentage terms, albeit off lower bases.
Source: ABS
On a personal level, I’ve always believed that the diversity of Australia’s population is a great strength and a positive attribute for the country. The fact that so many migrants seek to come here is a testament to the wonderful country that is Australia. I migrated from South Africa some 35 years ago, and although I still take pride in the Springboks winning the Rugby World Cup, I am very glad and grateful to call Australia home.
Disclaimer: Clime Asset Management Pty Limited | AFSL 221146 | ABN 72 098 420 770. The information provided in this post is intended for general use only. The information presented does not take into account the investment objectives, financial situation and advisory needs of any particular person, nor does the information provided constitute investment advice. Under no circumstances should investments be based solely on the information contained therein. Please consider the relevant disclosure document/s before investing in one of our products. Investment in securities and other financial products involves risk. An investment in a financial product may have the potential for capital growth and income but may also carry the risk that the total return on the investment may be less than the amount contributed directly by the investor. Investors risk losing some or all of their capital invested. Past performance of financial products is not a reliable indicator of future performance or returns.
