ABC News Daily Can Australia cope with 40 million people?
Nov 17, 2024
Gareth Hutchens, ABC's business and economics reporter, dives into Australia's impending population boom. He discusses how the nation is on track to reach 40 million, largely driven by immigration amidst falling birth rates. Hutchens emphasizes the urgent need for a comprehensive plan to handle the challenges of housing, water, and climate change. He also grapples with the balance between the economic benefits of a growing population and the potential environmental repercussions. Without strategic foresight, Australia could face significant crises ahead.
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Population Growth Driven by Immigration
- Australia's population, over 27 million, grows through immigration, not childbirth.
- The fertility rate is 1.5 babies per woman, below the 2.1 needed for replacement.
Projected Population Growth
- Australia's population is projected to reach 40.5 million by 2062-63, according to Treasury officials.
- This projection is based on the 2023 Intergenerational Report.
Immigration and Economic Growth
- Immigration is essential for economic growth, expanding domestic markets, and supporting the aging population.
- Australia's education sector, a major export, relies on international students.