Leading Australian demographer says strong economy and job prospects make Australia a great place to be for all generations
Australia is ripe for investment, according to leading Australian social commentator and Managing Director of The Demographics Group, Bernard Salt.
The well-known Aussie demographer was upbeat as he launched into a 40 minute presentation in Sydney, about the strength of the Australian economy, the pliable Australian culture and how travel (corporate and leisure) underpins the nation’s future growth and connectivity to the rest of the world.
Salt’s convincing spiel was to a packed audience at the ACTE/CAPA – Centre for Aviation and Corporate Lodging conference early December. He urged the audience, made up of mostly travel representatives and business leaders, to have confidence in Australia as a rapidly-growing and financially expanding nation.
“We (Australia) are the 14th largest economy on earth,” Salt said “We are a rich nation per capita. The Organisation for Economic Cooperation and Development (OECD) has projected that by 2028 Australia will have lifted to be the 12th largest economy on earth - this is why you would have confidence in Australia.
“Projected GDP will be 50% up on where we are today and will be underpinned by a bigger Australia. These stats will be supported by high levels of immigration, generating wealth and prosperity, all improving connectivity to the rest of the world.”
Salt said the greatest wealth generating country right now was China and that money from many different Chinese cities would continue to flow into Australia for as long as the regulatory environment allowed it.
Salt believed it was Australia’s enviable ‘lifestyle culture’ that was a major appeal to international travellers including Chinese residents. So too, he said was the country’s high quality universities, affordability, job prospects plus standards of living and food – all of which continued to attract ‘trans-national residents’ ... and their funds.
Salt told the Sydney conference that Australia ‘needed to leverage Asia’s buying power for our produce, resources, commodities and lifestyle’ in order to sustain the current economic environment in Australia – which he described in his presentation as ‘outrageous prosperity’.
“We need to grow this market for the future” Salt said.
The Australian commentator went on to say that in 2004 there was one flight connection to Sydney and Melbourne from Shanghai. Now, he said, there were three flights annually being added to these routes.
“The Australian people and our economy will help our Asian counterparts make the most of their holidays,” Salt said. “This can go on for a further two generations into the future. What will the impact be on Australia? The impact is that Australia will be evolving, changing, absorbing and prospering into the future.”
Salt added that it was critical Australia’s travel industry could facilitate the growing number of inbound visitors, and for business owners and leaders to maximise the opportunities being generated by the international interest in Australia.
Article written by Sally Gordon, who attended the ACTE/CAPA – Centre for Aviation and Corporate Lodging Forum in Sydney 3 – 4 Dec 2018.