retiring offshore loss of 1.3bill py

Austrailians who can not afford to live in australia are migrating overseas to live.
If 10% shift ofshore this will take 1.3 billion in social payments and loss of about $300 million per year to each state in spending.
This does has an effect on the economy. Retirees are settling in phillipines and places where they can live like kings. I predict unless the cost of living is brought under control ppl will migrate and this has the potential to become huge.
You could see as much as 30% of the retired population move off shore, remember they are also consumers.

I am not talking just about pensioners either, this will also include asset rich. Imaging 10% of the retiring population selling their 800k homes and moveing offshore, that would be a loss of 80 billion plus, the loss of annal spending, plus the multiplier effect.


In the phillipinines, Davao you can live like a king for $250 per week maid cook etc etc, here you live like a dog.
Davo is the safest city in phillipines, there are rumous that drug dealers are dropped in the ocean.
They are simply too scared to play up. You can walk the streets and noone will touch you.
Medical care in Davo is far superior and makes Australia look like a micky mouse war zone hospital. Its expensive but very very good.