A post COVID-19 world will change a lot for the migrants from India. Major developed countries like the USA, UK, Italy, Spain etc have been crippled by the global pandemic so much that it has left the government take extreme measures. However, Australia is one such country that has stood tall amidst the crisis due to its concrete stimulus packages and a pro-active government that has been able to minimise the effects of COVID-19 in their borders.
Phoenix Business Advisory, the most trusted business immigration consultancy for Australian, analyses 7 main reasons to shift to Australia after the COVID-19 crisis.
- Business Opportunity in Australia:
Australia has had the 28th consecutive year wherein it has registered growth in positive figures. 10 of the country’s top 12 export markets are within Asia and Oceania. The two-way trade in goods and services totalled INR 35 lakh crores in 2017 and the foreign investment stock totalled around INR 12 lakh crores. Australia’s inward foreign direct investment stock reached INR 39 lakh crores in 2017. Australia is also ranked at the 20th spot on the global level for Ease of Doing Business and has operations from 9 of the top 10 fortune global 500 companies and 8 of top 10 Forbes global 2000 companies.
- COVID19 stimulus package equal to 16.4% of annual GDP:
This is the highest and the most promising stimulus package announced by any government across the globe amidst the COVID-19. Measures worth INR 10 lakh 15 thousand crores from the commonwealth, INR 55,460 crores from the states and INR 4 lakh 93 thousand crores in RBA-government lending have been announced. In addition to that, the Reserve Bank of Australia announced an INR 4 lakh 23 thousand crores three-year funding facility to help banks continue to lend to business, and federal government contributes INR 70 thousand crores skewed to smaller banks and non-authorised deposit-taking institution lenders.
By 22nd March 2020, the government announced a second major economic rescue package worth INR 3 lakh 10 thousand including an INR 25,000 (approx) coronavirus supplement to jobseeker payments and a second INR 36,000 payment to welfare recipients. The latest package being the Job keeper package worth INR 6 lakh crores including an INR 70,000 fortnightly job keeper payment for employers to pass on to employees to keep them in work, and extending eligibility for jobseeker payments.
- Stable Economy:
Its stable economy is resistant to the global recession and has just 5.3% of unemployment rate providing ample of skilled job opportunities. Its annual growth has been in positive figures for almost 30 years. It is the 14th largest economy of the world with very low government debt. Its average annual real GDP will be 2.7% over the next five years. This is the highest amongst the major economies of the world in times when stock markets and financial institutions are on the verge of collapse worldwide due to COVID-19 crisis.
- Simplified Visa Process:
An Australian PR will provide you with a number of benefits such as:
- Investment after PR
- No IELTS required for Business PR
- Freedom to live and work for an indefinite period
- PRs can easily sponsor their near ones
- PRs can apply for citizenship after a few years
- Quality and affordable education and accepting culture:
Australia has more than 1000 institutions which provide around 2200 courses. 5 universities of Australia are listed in top 50 universities of the world as per QS rankings. Education in Australia is free till class 12 for PR and citizens and they also get a 50% subsidy at the university level.
A student, on an average, will save around 40% while opting to study in Australia.
- Finest Healthcare system:
Australia healthcare system is one of the most efficient in the world. Medicare, a publicly funded healthcare system, has penetrated the local population at large. The portion of the premium of private medical insurance is tax-deductible which provides the extra lump sum to the family at the end of the year. Research studies have shown that people in Australia tend to live 14 years longer than that in India. The life expectancy of India is 68.56 while that of Australia is 82.5.
Australia has one of the lowest mortality rates amidst the COVID-19 crisis. The Prime Minister activated the Australian Health Sector Emergency Response Plan for Novel Coronavirus (COVID-19) and established a large number of GP respiratory clinics across the country.
- A large number of Indians in Australia
India accounts for the largest number of migrants in the country since 2016. The Australian Bureau of Statistics (ABS) in 2019 revealed the Indian population had grown from 455,389 in 2016 to 592,000 in 2018 and accounted for 2.4% of the Australian population. The Department of Home Affairs has revealed India is the largest source of migrants to Australia. The total permanent Migration Program outcome for 2018–19 was 160,323 places, of which 33,611 places went to Indian citizens. Australian Financial Review listed Vivek Chaand Sehgal as the twelfth richest Australian on its 2019 Rich List with an estimated net worth of $5.5 billion.
Get in touch with Phoenix Business Advisory, your Business PR experts & book a consultation to secure a future for you and your family in Australia. July 2020 quota is getting full, apply now!