Study in Australia: Aussie Universities & Overseas Migration Will Assist in Meeting IGR Challenges

Australian Government released the Intergenerational Report for 2023 on the 24th of August 2023. The report basically highlighted some key problems faced by Australia. These chiefly include an ageing population, productivity, climate change, net zero transformation, geopolitical risks, digital technology usage and healthcare demand. 

The government has targeted education and educational institutions to assist in getting out of these problems in the long run. As a result, we will ensure greater funding for higher education and actively implement plans to reduce the barriers in education.

What this step will establish is an improvement in productivity and make the existing population efficient. Promoting education will also guarantee overseas migration of youth falling in the target age group. Let’s discuss each of these two parameters in detail. 

Australia IGR 2023 Full Report – Click Here

Universities Research and Overall Productivity

For so long, it has been productivity that has driven Australia in the global competition. Now, as it rises as a challenge in the IGR report, the government intends to solve it with research, innovation and human capital. 

Also, as Australia’s GO8 universities are world-leading in terms of research and producing top-level talent, they are Australia’s best shot now. As stated by Go8 Chief Executive Vicki Thomson, “The Go8 undertakes 70 percent of all Australia’s university-based research and spends $7.7 billion annually on research.”

Pertaining to its need for investment in knowledge and human capital the government will invest 3% of GDP on R&D. Earlier it used to invest 1.7% in the field. The Treasurer supported this argument by emphasising the need to “skill up” the people. 

Overseas Migration of Youth

In the IGR 2023 document, the issue of the ageing population was a recurring topic, and there were multiple discussions regarding overseas migration as a potential solution. The report states that migration will continue to contribute to Australia’s population as it has over the past 20 years. What’s interesting over here is this statement-

“The arrival of young migrants lowers the median age of the population and adds to Australia’s working-age population and skill base.”

As the country plans to retain migrants, youth who are educated and trained within Australia will be preferred above others. They have an edge over others for being educated with regulations followed in the country and a verified background check.

These factors i.e., the need for youth migrants and improvement in higher education make Australia favourable for many more aspirants. 

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