Do migrants have an impact on the Australian economy?

The world is experiencing unprecedented levels of displacement and migration. Many people are on the move, seeking opportunities in other countries for better lives. With this increased level of migration comes a need to make sense of what this means for society, especially when it comes to economics. 

In a world where globalization has been shaping the economy for years, one thing that doesn’t seem to be going anywhere is immigration. In fact, there are potential benefits from it! A recent report on migration and productivity in Australia noted: “migration has had a (weakly) positive impact on aggregate productivity” . It became more notable according to contributions towards labour growth as well as multifactor output per worker – especially those coming into industries with shortages like agriculture or healthcare providers. ( source: Dean Parham, Hang To, Nazrum Ratna, Sue Regan and Quentin Grafton (2015) Migration and Productivity in Australia, Australian National University: Canberra, 15.)

Immigrants are a driving force in the innovation, creativity and evolution of organisations. They help companies to provide new services or products by adapting technology for use within their own country; or locally based on their international experience. 

The benefits immigrants bring into business make an impact right away: The innovations made possible because they weren’t afraid to think differently (or speak English) can lead towards personal success stories like yours.

We are honoured to support migrants and refugees by delivering a fully funded business growth program that starts in December 2021. ( we have a few intakes the following year as well) 

If you are a migrant or refugee living in Australia and would like to gain some knowledge on how to improve your business or potentially grow your business into the Asia – Pacific Market, you are in an excellent place to start! 

Please check our Migrant and Refugee Business Growth Program or Asia- Pacific Market Exchange Growth Program for more information. 

We also recommend connecting directly with davids@runwayhq.co, who will help you decide which program would be most suitable for your business or join one of our live information sessions, which you can find HERE