Posts Tagged Australian economy
In keeping with Australia’s continuing economic growth despite the otherwise global economic downturn, the Australian central bank was the first of the G20 nations central banks to raise interest levels (from 3% to 3.25%). In addition, the central bank has indicated that interest rates would continue to rise if economic growth continues at the present rate.
This rise in interest rates is great news for people planning to live, work or invest in Australia.
Click here for more details about the Australian economy and it’s changes in interest rates.
If you woudl like to find out how you can obtain a visa for Australia, please contact Sort Out My Visa for a free assessment of your best visa options.
According to the biannual economic survey undertaken by The Age, the Australian economy will be well on track to an economic recovery by early next year. If The Age’s forecast is correct, then this means that Australian will have cleverly avoided two quarters of negative growth by early next year, and will therefore have recovered from what can only be described as a very mild recession.
The positive prediction by The Age is based on a survey of top economists, including The Macquarie Group and a number of University based economists. All of whom attribute moves by the Australian Government (like the introduction od tax break, lower interest rates and the push on automotive sales) to the progress towards a recovery, and on factors such as an a growth in retail and in the property market and a levelling off in the fall of job vacancies.
If The Age is correct in it’s predictions, then this is of course great news for all potential migrants and individuals wanting to work in Australia. The Department of Immigration (DIAC) has been very careful about mirroring all changes in the Australian economy, so that the economy can cope with the number of migrants, workers and visitors coming to Australia. For this reason, the last few months have seen the introduction of a number of tightening measures whereby visa processing times have been lengthened and certain occupations prioritised over others.
It is therefore safe to predict that once signs of an economic recovery are registered, and the job market has stabilised, the DIAC will also revert to it’s pre-recession processing times.
We advise all individuals wanting to work or migrate to Australia to lodge visa applications as soon as possible; moving quickly will ensure that any changes in the regulations and visa requirements will have a minimal impact. Moving quickly also means that the sooner a visa application is lodged, the sooner it is placed in the processing queue.
The lesson is, as always, if you are serious about your Australian dream, then act quickly to make an application so that you are not affected by changes in the law and so that you have taken all necessary steps to ensure that your visa application can succeed and can be processed as quickly as possible.
In many ways, there cannot be a better time to apply: If The Age’s predictions are correct, then you will be arriving in Australia just as the economy begins it’s take off and when employers are once again on the look out for professionals with skills and experience to fill all vacancies.
For more information about The Age’s predictions about the Australian economy in 2010, click here.
Sort Out My Visa is a migration consultancy specialising in Australian and New Zealand visa applications.
According to The Age, unlike the economies of almost the rest of the World, the Australian Economy is actually doing reasonably well. In fact, the Australian economy grew in the March quarter.
This does not mean that Australia has been completely unaffected by the recession elsewhere in the World – it is true, for example, that there has been a rise in unemployment. But the state of the economy prior to the economic downturn means that Australia is well cushioned as it waits out the economic downturn.