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Immigration should be encouraged to help boost NZ economy

Posted on 26 Nov at 9 AM Tags: Immigration, Property,

A recent report commissioned by a New Zealand industry pressure group argues that one of the ways to make sure the country grows its export economy would be to grow the population by encouraging more immigrants to settle. The study was compiled by New Zealand’s Institute of Economic Research and suggests that the country’s population should increase to around 15 million by 2060.

To achieve this the annual rate of growth would have to be 2.5 per cent. The present population is around 4.5 million people.

ExportNZ is also calling for a nationwide debate on the subject of immigration. The study revealed that New Zealand is failing to attract or grow large firms that would allow the country to compete more effectively internationally because it is a small, isolated market.

ExportNZ said economic performance was being hampered because of scale and that one of the ways to make the country achieve the scale needed to become more competitive globally would be to encourage more immigrants to settle. The report said a population of 15 million was possible and would make New Zealand more comparable to European countries in terms of population density.

ExportNZ added that 15 million people would allow the country to develop several large cities that would improve levels of domestic competition. The study goes on to explain that these cities would allow companies to grow by catering to domestic demand to a size that would allow them to go on and compete in the world markets.

The NZD exchange rates on 26/11/2012 were as follows: GBP NZD = 1.9493, EUR NZD = 1.579, USD NZD = 1.2159, AUD NZD = 1.2731, CHF NZD = 1.3116, INR NZD = 0.0219, AED NZD = 0.3313, MXN NZD = 0.0934, CAD NZD = 1.2245, ZAR NZD = 0.1373, RUB NZD = 0.0392, . See today's New Zealand Dollar Exchange Rate
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