Billion Dollar Benefit: The economic impact of unlocking the skills potential of migrants in Australia
Billion Dollar Benefit
Talent is distributed equally, but opportunity is not.
The Billion Dollar Benefit is the huge economic potential we could realise if skilled refugees and migrants in Australia worked in their fields of expertise.
Right now, one in four permanent skilled migrants work in jobs beneath their skill level. They deserve a chance to use their full set of skills and experience to build fulfilling lives and careers.
Reducing employment barriers and embracing the skills of refugees and migrants can add billions to the Australian economy and plug critical skills gaps, while also providing sustainable employment pathways for newcomers. It’s a win-win-win.
On 20th June 2024, SSI launched Billion Dollar Benefit: The economic impact of unlocking the skills potential of migrants. This report was commissioned by SSI, conducted by Deloitte Access Economics, and jointly supported by SSI, Allianz Australia, Business NSW, Business Western Sydney, and LinkedIn.
In an Australian-first, this research quantifies the economy-wide impact if migrant professionals worked in jobs that match their skills at a similar rate to Australian-born workers.
The report shows that the Australian economy would benefit from a $9 billion boost each year if migrants and refugees already in the country could use their full skillset.
Further, closing the migrant skills mismatch would add around 44,000 jobs to the economy each year, increase wages for migrant and non-migrant workers alike, and increase productivity at the industry level.
Read the full report, or join the coalition by visiting the Billion Dollar Benefit website below.
Downloads
Billion Dollar Benefit Employer Guide
Billion Dollar Benefit Flyer
Billion Dollar Benefit Report
Billion Dollar Benefit Technical Appendix