During a recent Economic and Fiscal Update, it was announced that Australia’s net migration intake would be significantly lower in 2020-21 due to COVID-19 related travel bans.
Given the announcement that BAU processing of many of the most popular visa classes was delayed indefinitely a month ago, this isn’t surprising. Still, it’s a massive blow to those looking to migrate to Australia this financial year.
During the announcement, Treasurer Josh Frydenberg revealed net overseas migration (NOM) is assumed to fall by a massive 80 per cent in 2020-21, compared to the last financial year. To put it this into context, Australia’s net overseas migration will fall from 154,000 in 2019-20 to merely 31,000 in 2020-21.
- 154,000 permanent residency visas granted in 2019-20
- Net Overseas Migration (NOM) to fall to 31,000 in 2020-21
- Eligible New Zealanders will be encouraged to take up Australia’s permanent residency
Between July and December 2020, only citizens, permanent residents, New Zealanders and a small number of international students are assumed to be able to travel to Australia, based on the announced policy to date.
From 1 January to 30 June 2021, it is assumed that the travel ban will be lifted, but a two-week quarantine period will still be required of arrivals to Australia. This leads to the resumption of arrivals by temporary and permanent migrants but at lower levels overall than normal,
Net overseas migration takes into account how many people enter Australia and stay for more than 12 months, compared to how many people leave the country for the same period.
This REALLY Sucks!
If you guys are a little like me, you’ll likely be completely over the negative sentiments being published in the news. Unfortunately, this is the new reality of living n a world controlled by a global pandemic.
All I can ask is that you continue to remain motivated and don’t give up on your dreams. A time will come when this is all over and the world as we know it will need to rebuild. Australia, like many countries, will be looking to introduce billions of dollars as stimulus packages back into the economy.
Where there is money, there will be jobs and given Australias (generally) good handling of the COVID crisis (at least here in Western Australia anyway). I’m hopeful Australia will be one of the first ‘cabs off the rank’ to opening their borders to immigrants to assist with this recovery.
How Has COVID-19 Impacted you?
Had you applied or were you planning to apply for an Australian Visa this year? Let us know in our comments below.