New Zealand net Migration in August as fewer people move to Australia
New Zealand's recent review of August's net migration has shown a rise in people migrating to New Zealand. Along with that, each month has seen a rise in people migrating which has seen Australia declining each month as people find better prospects in the neighboring country.
Canterbury, New Zealand has gained 3600 migrants from all around the world to the region recently which is a blessing for the region which was hit by the earthquakes which has seen net losses in 2011, 2012.
According to Senior Economist Felix Delbruck, people are migrating to New Zealand instead of Australia maybe due to the fact that their are better economic prospects, whereas Australia's job opportunities along with living expenses make it very difficult to merge into a good life. This leads to a boost in the net immigration to New Zealand along with the jump in domestic consumer demand along with housing demand.
The expected numbers for the near future will include a raise from 12 848 in this month of this year which will jump to 17000 by the end of the year. Which will further jump to 25 000 by the end of next year which is a massive boost for their economy. The Central Bank 90-bill rates to rise from 3% to 4.2% by 2016 which was brought on by the net migration numbers along with export commodity prices, but the NZ dollar has seen a depreciation recently.
New Zealand has seen visitors rise by 6% which reached the number of 189300 in august which included more people from Australia and China. New Zealand has also seen a rise of 6% of kiwis traveling overseas to the number of 205100.