THE ROLE OF LABOR MIGRANTS IN THE DEVELOPMENT OF THE AUSTRALIAN SERVICES MARKET
Journal Title: Проблеми системного підходу в економіці - Year 2017, Vol 5, Issue 61
Abstract
The article examines the peculiarities of the impact of labor migration on the development of the Australian services market and pays more attention to the subsectors of financial, transport and tourist services. In order to carry out a detailed analysis of this issue, three types of regression models were designed to measure the impact of indicators such as received remittances to the country and sent remittances from the country, the number of emigrants and immigrants, and the level of unemployment in the Australian services market. It is proved that for all types of services the indisputable positive effect is carried by the number of immigrants. Other manifestations of migration in different ways affect each individual sub-sector of services. It is found that Australia is a net importer of labor and the largest number of immigrants originates from the United Kingdom, New Zealand and China. The greatest influence on the development of the market of financial and tourist services is carried out by the transfer of Australian emigrants from abroad, and on the transport services – transfers of immigrants to their homeland. The overall impact of migration on the development of the Australian services market is manifested in the growing demand for services of the national market, as immigrants become consumers themselves; immigrants extend the boundaries of the national service market, creating new enterprises, bringing experience and technology of their country of origin; immigrants fill vacancies in service spheres, which increases the productivity of enterprises and the industry as a whole; stimulating the export of services through new markets, new foreign consumers; they influence the increase of the consumer potential of the population of Australia through the growth of wages in the industry; they show the smaller demand for some public services (for example social assistance) in comparison with native population, which reduces the pressure on the state budget, and increase the demand for other state services increases, adding earnings to the state budget of Australia.
Authors and Affiliations
E. I. Voinova, V. O. Puhalska
Keywords
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