"This report documents the first comprehensiveanalysis in almost a decade of the impact ofmigration on our key economic indicators andthe verdict is conclusive: migration is central toAustralia’s future prosperity.Australia’s projected population will be 38 millionby 2050 and migration will be contributing$1,625 billion (1.6 trillion) to Australia’s GDP.Moreover, migration will have added 15.7 per cent to our workforce participation rate 21.9 per cent to after tax real wages for lowskilled workers 5.9 per cent in GDP per capita growthOverall, by 2050, each individual migrant will onaverage be contributing approximately 10 per centmore to Australia’s economy than existing residents"
(Source: MCA)
PS: Canada owes its position in the G7 to immigration, IMO, because it grew its population via immigration more rapidly during our "White Australia Policy" period.
