Australia’s migration intake will drop significantly to 31,000 in 2020-21 from 232,000 in 2018-19 due to the effects of the Coronavirus pandemic, impacting thousands of Indians planning to emigrate to this country.
While the effects of the COVID-19 pandemic on the Australian economy are still evolving, migration, which is a key driver of the economy, has been hit following the travel bans, border closures imposed earlier this year since the contagion began. The Australian Economic and Fiscal Update report, released on Thursday by the treasury department, said that the Net Overseas Migration (NOM) is significantly affected by the international travel restrictions and constraints on the ability of applications to meet visa application requirements.
The NOM is assumed to fall from 232,000 in 2018-19 to be 154,000 in 2019-20 and 31,000 in 2020-21, it said.
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