What recession, mate? Australia looks even better to potential immigrants.
It’s no secret that many developed countries still are experiencing financial difficulty. Some countries are actually in dire straits and are unlikely to find friendlier straits anytime soon. In Australia, it’s not quite like that. Even overseas commentators laud this distant land’s situation and predict it will emerge from this global crisis stronger than ever.
The Australian Bureau of Statistics (ABS) has officially announced the Australian economy avoided recession, making it the only major Western economy to do so and making emigrating to Australia all the more attractive to potential migrants struggling in recessions around the world.
Global economists’ statements indicate that relocating to Australia can place migrants in one of the most stable economies in the world, because its track-record for business during the global economic crisis has set the pathway for a strong economic recovery and greater investment security.
The Australian Government has issued official data that shows Australia managed to sidestep the recession that settled over in other major economies around the world, including Britain and the US. Australia’s growth of 0.4 per cent in GDP in the last quarter has been attributed to a relatively strong performance from exports.
“Australia is the fastest growing of all the major advanced economies, we have the lowest debt and lowest deficit of all the major advanced economies and we’re the only advanced economy at present not in recession,” Prime Minister Kevin Rudd said.
Not only has the Government claimed responsibility for keeping the economy healthy, it has planned an aggressive economic policy to pave the way for a strong economic recovery, and has ensured that the Australian skilled migration program will continue to bring in the skills it needs to promote economic growth and support infrastructure expansion.
Given Australia’s relative resilience in the face of those global plummeting economies, local economists are decidedly confident about the nation’s success.
“There is no longer a crisis,” said AMP Capital chief economist Shane Oliver.
That assessment is backed by figures showing the biggest surge in building activity in four years. Furthermore, there are signs that local bank shares, long the barometer of the health of the Australian economy, are back in favour.
Australian Bureau of Statistics (ABS) data showed residential building approvals increased by a massive 9.3 per cent in June as consumers buoyed by low interest rates, government grants and market optimism signed on the dotted line to fulfil the Great Australian Dream.
The recovery of Australian bank shares, which have been sold down mercilessly since the onset of global financial turmoil, was announced by financial giant Citigroup, which encouraged investors to buy them now. Further, following better than expected profit forecasts from Macquarie Group, Citigroup issued buy recommendations on all four major banks.
Citigroup analysts said they had become increasingly optimistic about the local banks in light of Australia’s improving macro-economic outlook.
The glowing endorsement spurred the Australian share-market to its highest close since November 6 last year, with investors storming back into bank shares.
Since hitting bottom in March, the share-market has risen almost 36 per cent, culminating recently with 11 straight days of gains.
“With evidence continuing to mount, we now believe that the economic downturn in Australia will be less severe than we had previously anticipated. Given this, we are becoming more optimistic about the outlook for the major Australian banks,” Citigroup bank analyst Craig Williams said.
Commsec chief economist Craig James said: “There are plenty of grounds for optimism. It is a case of the glass now being half full instead of half empty. The worst is definitely behind us”.
So, given the buoyancy of the Australian economy relative to the rest of the developed world, what Aussie opportunities are most accessible to intending skilled emigrants in the UK, US, Canada, India, Ireland and elsewhere? There are too many to enumerate here. Certainly, qualified and experienced people in IT, Health Services, Education are, among many others, in urgent demand. Same goes for experienced trades people in many occupations.
But, with the remarkable number of infrastructure projects being launched by Australia’s federal and state governments, not to mention the still booming resources industry, it’s safe to predict that the engineers, in their various specialities, are near the top of the list. For engineering is one of the key enabling professions in the Australian economy, so it’s worthwhile taking a closer look at engineering in Australia.
Examples of engineering design, products and services permeate all aspects of everyday life. Engineers apply their skills in numerous ways, in specialist technical occupations, in design, in management and in entrepreneurship.
Engineers Australia is the peak body for engineering practitioners in Australia, representing all disciplines and branches of engineering. All Engineers Australia members are bound by a common commitment to promote engineering and to facilitate its practice for the common good. In December 2005 Engineers Australia membership had grown to 75,798.
While engineers get great coverage in the context of Australian minerals export, large numbers of engineers are involved in the building and construction sector, in the construction of infrastructure and the delivery of infrastructure services that are the hallmarks of a modern, sophisticated society. Equally important, engineers are critical in managing water supplies, the achievement of energy efficiency and development of renewable energy sources, resource management, the development of medical and rehabilitation technologies and tools. Engineers are increasingly becoming critical to the management of the quality of Australia’s environment, oil, gas and electricity industries, mining, and manufacturing and to infrastructure investment projects across the board.
The size of the engineering profession in 2001 numbered 150,409 individuals qualified at the Bachelor Degree level, including both Professional Engineers and engineering Technologists. The Engineering Team, which also includes Engineering Associates who hold Undergraduate Diplomas and Associate Degrees, numbered 267,538 in 2001. Engineers tend to be, on average, younger than other professionals and about 10% are women.
In response to the GFC and its possible negative affect on employment, the Australian Government reduced the Australian skilled migration allocation to 108,100 places from a record high of 133,100 at the start of the year. It seems likely this maybe adjusted upwards in the short to medium term as, oddly enough, these cuts coincided with the announcements of the many and varied infrastructure projects. But right now, the immigration department is targeting skills in the health, IT and engineering sectors and is giving state/territory governments and employers greater scope for nominating skilled migrants to fill jobs they need filled most urgently. Thus, it would seem advisable that skilled migrants in various countries, who are considering their futures and looking out for long term opportunities that could assure their long-term futures, might benefit by exploring Australia’s skilled migration now, before the bottle-neck blocks up again.
Prospective migrants still have several options open for making the move to coming to Australia to establish themselves in a great lifestyle, a long-term career and an advantageous position to enjoy the peace and prosperity of a country whose future looks even better than its past.
If you want to move to Australia, or think you might in the future, consult an online Australian visa advisor, or see how in demand your trade or profession is, simply by checking out the priority lists, and then maybe accessing an assessment.
Anyone considering a move to a country and economic climate more conducive to advancing personal ambitions and establishing a generally better life, might be well-advised to select a reputable, proven and successful Australian visa advisory specialist and start researching that lucky country’s opportunities both current, and imminent.
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