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Wednesday, 24 June 2015

Record Chinese settlers too

Lucky eights

I noted from the latest Overseas Arrivals and Departures figures that there were an astonishing 888,000 Chinese short term arrivals into Australia in the 12 months to March 2015.

What an incredible boom!

There were a further 329,000 visitors from Hong Kong and Taiwan combined too.

Record Chinese settlers

This is instructive, because today's short term visitors may opt to become tomorrow's settlers.

Indeed the March 2015 figures revealed that 1,960 Chinese chose to settle in Australia in the month, the highest figure ever recorded.

Interestingly there were also 1,980 Indian settlers in March, which is very close to the highest ever level for Indian settlers seen in February 2014 at 2,010.

Conversely, fewer and fewer Brits are choosing to settle in Australia, with only 670 settlers in the month, a figure which a thousand miles away (or perhaps one should say ten thousand miles away) from the monthly peak of 2,490 set in October 2008. 

Exchange rates have played a key role here, as well as the ebbs, flows and fortunes of the UK economy.

Similarly, the number of New Zealand settlers is in an entrenched downtrend, with monthly settler numbers having approximately halved since the beginning of 2013.

Over the year to March there were 72,380 Asian settlers., nearly 3.5 times the number recorded for the next largest continent, being Oceania (essentially, New Zealanders).

The majority of new settlers are heading to our four largest capital cities, following the employment growth.

Will they increasingly opt for medium-density living too?