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TheAustralian

National Agenda

How is Australia managing our aging population?

Australia stands a good chance of continuing to be a comfortable place for retirees even in the face of big demographic shifts, thanks to immigration.  

  • Australia is actively importing skilled labour, which boosts GDP by allowing businesses to grow when they need to. This places Australia at an advantage compared to countries with stricter immigration, such as Japan 
  • The skilled migration program is assisting retirees, especially those who rely on the pension, to live a secure retirement. 
  • Superannuation is taking pressure off state revenue streams for pensions.

Takeout

The aging population in Australia will create a significant shift in consumption trends, creating opportunities for marketers and brands willing to adjust. The ongoing influx of international labour will also impact our market, possibly seeing new demand for international products and preferences.  

Source: The Australian - Can Australia afford an ageing workforce?