Temporary visa arrivals soar to all-time highs

Thursday, 15 June 2023

Recall that May’s federal budget ramped up Australia’s net overseas migration (NOM) projections to an all-time high:

Source: 2023 Federal Budget

NOM is now projected to reach a record 400,000 in 2022-23 before falling to 315,000 in 2023-24. Then it will fall to 260,000, where it will remain over the forward estimates.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.