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NZ Record Migration Gains as More People Acquire Work Visas

NZ Record Migration Gains as More People Acquire Work Visas

Net migration to New Zealand has surged to a record high of 96,000 in the year ending July, according to provisional estimates from Stats NZ. This ma

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Net migration to New Zealand has surged to a record high of 96,000 in the year ending July, according to provisional estimates from Stats NZ. This marks a significant shift from the same period in 2022 when 14,500 more people left the country than arrived. The increase in net migration is primarily attributed to citizens of India, the Philippines, China, South Africa, and Fiji. A net total of 135,600 non-New Zealand citizens arrived during this period, setting new records.

The rise in migration, particularly of those on work visas, has had several impacts. It has made it easier for employers to find needed staff and skills. Additionally, the growing population is supporting spending levels despite tighter financial conditions. However, the housing market may be affected, with a shortage of rental accommodation in Auckland’s central business district leading to rising rents. Economists anticipate that strong net migration may begin to moderate as New Zealand’s economy slows down.

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