Australia’s Overseas-Born Population: 9 Key Facts

The Australian Bureau of Statistics (ABS) has released the latest update on Australia’s overseas-born population, providing valuable insights into demographic trends and their implications for the nation’s economy and business environment. Here are nine key facts about Australia’s foreign-born population as of June 2024:

1. Rising Overseas-Born Population
   In 2024, 31.5% of Australia’s estimated resident population was born overseas, marking an increase from 30.7% in 2023. This rise of 396,000 people reflects a steady growth in the number of immigrants to Australia, underscoring the nation’s appeal as a destination for international migration.

2. Post-Pandemic Recovery
   The growth of Australia’s overseas-born population has continued for the third consecutive year, following a temporary decline in 2021 due to COVID-19 and international border closures. The recovery highlights the ongoing role of migration in Australia’s demographic and economic recovery.

3. Global Representation
   Australia’s overseas-born population is truly global, with almost every country represented. This diverse demographic makes Australia one of the world’s most multicultural nations, contributing to the variety of skills, perspectives, and cultural diversity within the workforce.

4. Top Five Countries of Birth
   The five most common countries of birth for Australia’s overseas-born population are England, India, China, New Zealand, and the Philippines. These nations continue to play a dominant role in Australia’s immigration patterns, with significant economic and social ties influencing both business and trade.

5. Largest Increases from India, China, the Philippines, and Nepal
   Over the past decade, the largest increases in Australia’s overseas-born population have come from India, China, the Philippines, and Nepal. This reflects changing migration patterns, driven by factors such as economic opportunities, education, and family reunification, which have significant impacts on sectors like education, healthcare, and skilled labour markets.

6. Italy’s Decline in Migration
   For the first time since 1901, Italy has dropped out of Australia’s top 10 countries of birth. This shift highlights broader trends in migration flows, with countries in Asia and the Pacific now accounting for a larger share of Australia’s overseas-born population. The shift may signal a change in demand for services, cultural integration, and business partnerships traditionally associated with Italian migrants.

7. Median Age Shifts
   The median age of Australia’s overseas-born population has decreased from 46 years in 2004 to 43 years in 2024, while the median age of the Australian-born population has increased from 32 years to 35 years over the same period. This demographic change suggests a younger, more dynamic labour force among immigrants, which could influence business sectors that rely on a younger workforce, such as technology, hospitality, and retail.

8. Variation in Median Age by Country of Birth
   Among specific nationalities, those born in Latvia have the highest median age, at 80 years, while those born in Qatar have the lowest, at just 14 years. This demographic variability impacts sectors like healthcare, with an older overseas-born population requiring different services compared to younger migrants, who may drive demand in education and technology.

9. Australia Ranks Eighth Globally for Overseas-Born Population
   Australia’s overseas-born population ranks eighth globally, with 8.6 million people in 2024. This positions Australia as a major player in the global migration landscape, trailing only countries like the USA, which has the largest population of international migrants at 52.4 million. The size of Australia’s overseas-born community underscores the importance of immigration to the nation’s economic performance, with businesses increasingly relying on international talent.

Economic Implications for Business

The growth and diversity of Australia’s overseas-born population have significant implications for the economy and business environment. Companies across various sectors, particularly those in technology, healthcare, and education, will continue to benefit from a growing and dynamic workforce. At the same time, businesses will need to adapt to the changing demographics by fostering inclusive work environments, leveraging multicultural perspectives, and tapping into global talent pools to remain competitive in the international marketplace.

As migration patterns evolve, businesses should also anticipate shifts in consumer preferences and demand for products and services that cater to diverse cultural backgrounds. For instance, growing populations from India and China may influence demand in areas such as retail, food services, and cultural events, offering new opportunities for companies to diversify their offerings and expand their market reach.

In conclusion, Australia’s overseas-born population is a key driver of both economic growth and social development. Understanding these demographic shifts will enable businesses to better align their strategies with the changing needs of the population and capitalise on emerging opportunities in a globalised economy.

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