Is Australia losing its shine for migrants across the Tasman?
The promise of a better life in Australia, which has drawn many New Zealanders across the Tasman Sea in recent years, is now being questioned. Shifting cost-of-living and labor market conditions are affecting migration trends. Economists say the migration balance between the two countries could be reshaping.
The promise of higher wages and abundant job opportunities has driven strong numbers of New Zealanders to migrate to Australia in recent years. But recent data suggests that appeal is now being questioned.
Economists say Australia's rapidly rising cost of living, particularly housing prices, is eroding the advantage migrants once expected. Some sectors of the job market are also showing signs of saturation.
Analysts expect the historical migration balance between the two countries could shift in the period ahead. New Zealand's government is weighing additional incentives to make its own labor market more attractive.
Read next
Middle East uncertainty behind volatility in New Zealand business confidence
New Zealand business confidence surveys have shown marked volatility recently, driven by the Middle East conflict's impact on global energy prices and supply chains. Economists say businesses are delaying investment decisions amid heightened uncertainty. Survey results show export-oriented sectors are particularly cautious.
Australian wine exports slump to lowest level in 22 years as drinkers cut back worldwide
China says key plenum will be held in October
Trump's call for Asia-Pacific allies to raise defence spending may backfire on US
