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Lower dollar could encourage mi...

Lower dollar could encourage migration

The falling value of the Australian dollar could encourage migrants to realise their dream of moving to the country.

The falling value of the Australian dollar could encourage migrants to realise their dream of moving to the country.

While tourists and potential migrants may have been deterred by the high value of Australia's currency, its falling value could make moving to the country more within their grasp.

Louis Christopher, managing director of SQM Research, told SmartCompany: "When we see a falling dollar, housing becomes cheaper for those who are considering entering the local market and it means they’re getting a better price."

Often, migrants are attracted to Australia due to its reputation for a good lifestyle and warm climate.

It also has a strong economic position compared to a lot of countries, meaning that they may be more likely to find work here than they are at home. In fact, migrants can offer their skills up before they move to the country by acquiring a 457 visa. Yet it is the strength of Australia's economy that previously pushed the value of the dollar up.

Posted by Ravin Chatlani

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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