Every 1 minute and 58 seconds, an Australian leaves the country to live overseas, according to the Australian Bureau of Statistics. But what is compelling Australians to leave their birth country? Below we explore some of the possible reasons…
Why are Australians migrating overseas?
Cost of living
When comparing the cost of living and day-to-day expenses, how expensive is Australia compared to other English-speaking countries? To create a general idea of the cost of living, we can compare grocery and rent prices with the United Kingdom and the United States.
Rent prices in Australia are 16% higher than the UK, and groceries are a significant 25% more expensive in Australia. In general, the cost of living in the UK is significantly cheaper, suggesting it is a contributing factor for Australian emigration. However, rent in the US is 8.5% more expensive than Australia. Groceries are similarly cheaper in Australia compared to the US, but only by 1.3%. As the cost of living in the US is relatively equal to Australia, it implies that the cost of living is not the only factor persuading Australians to live overseas.
Job opportunities
The Emigration Group, when comparing job opportunities in the UK against Australia, found that there are roughly 751k job vacancies in the UK compared to 172k in Australia. This high number of employment opportunities could no doubt be seen as a compelling factor to migrate to the UK. The UK also has a slightly higher employment rate, furthering the appeal of working in the UK.
The US is often viewed as the land of opportunity and dreams, many Australians may venture to live and work in the US to turn their dreams into reality. But how plausible is this? With 10,500 E3 visas available each year to Australian citizens, no doubt the work opportunities in America could compel an individual to migrate.
No matter where you are or why you chose to leave, Expat Tax Services specialise exclusively in advice and tax returns for Australian expatriates. As Australian expats ourselves, we understand the tax issues of Aussie expats, everywhere. For more information, simply contact us.
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