Boost in migration expected for 2023

Increased numbers 'will provide relief to firms crying out for workers': economist

Boost in migration expected for 2023

Net migration to New Zealand is expected to climb significantly in 2023.

That’s according to Kiwibank economists, who predict sizeable increases.

“We're forecasting significant net migration inflows of over 30,000 people next year," said bank chief economist Jarrod Kerr, according to RNZ.

However, this would be a mixed blessing when it comes to inflation, he said.

"While rising net migration will provide some relief to firms crying out for workers, it will also add to the demand for everything."

New Zealand's ACT party has unveiled its immigration policy plan that seeks to streamline what it described is an "overly complex" set of current rules and regulations.

And while the boosted migration could put more pressure on the housing market, bringing in more people is a much-needed development for long-term growth in New Zealand, said Kerr.

"We have an ageing population like most countries, and migrants are a fountain of youth,” he said, according to RNZ.

"You're bringing in people who are generally aged between 20 and 40, they are high participants, they're keen on working when they get here, so they're a good addition to the economy. So yeah, I've seen that migration as a net positive."

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