More Australians moving to New Zealand
More Australians have crossed the Tasman to live and work in New Zealand than vice versa for the first time in nearly a quarter-of-a-century. According to figures released by the New Zealand government last month saw net migration of 100 Australians into the country.
Although the two countries have agreements with each other that mean citizens are free to work and live in either state, traditionally the move has been from New Zealand to Australia. However, Australia’s once booming mining industry has seen a significant slowdown in recent years where New Zealand’s economy remains strong.
In peak migration years as many as 40,000 New Zealand migrants would cross to Australia in order to find work and establish a new life. However, this figure has been steadily dwindling as unemployment figures have risen across the Tasman.
In the year ending April 2015 only 1,900 Kiwis moved to Australia. This is the lowest figure since 1992 according to Radio New Zealand. One of the main reasons seems to be the divergence in economic fortunes. Where Australia’s economy was once boosted by China’s demand for raw materials it is now the Kiwi economy that is strengthening.
Australia’s unemployment level is predicted to grow to around 7 per cent by the end of 2015, where New Zealand’s is expected to drop to 4.5 per cent.
The NZD exchange rates on 27/05/2015 were as follows: GBP NZD = 2.1152, EUR NZD = 1.5024, USD NZD = 1.3777, AUD NZD = 1.0652, CHF NZD = 1.4507, INR NZD = 0.0216, AED NZD = 0.3754, MXN NZD = 0.0901, CAD NZD = 1.1063, ZAR NZD = 0.1145, RUB NZD = 0.0267, . See today's New Zealand Dollar Exchange Rate
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