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After breaking all records in 2023, Australia’s net overseas migration looks to finally be moderating in 2024; albeit it remains at historical highs.
On Wednesday, the Australian Bureau of Statistics (ABS) released net permanent and long-term arrivals data, which registered its second consecutive annual decline:
After peaking in February at 498,300, net permanent and long-term arrivals retraced to 487,800 in the year to April.
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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.