Key Takeaways:
- Australia’s Migration Program for 2024–25: The Australian Government has set the permanent Migration Program planning level at 185,000 places for the 2024–25 fiscal year.
- Focus on Skilled Migration: Approximately 70% of the program is allocated to the Skill stream, aiming to address labor shortages and support economic growth.
- Changes to Visa Categories: Adjustments include increased allocations for Employer Sponsored and State/Territory Nominated visas, and a reduction in the Business Innovation and Investment Program (BIIP) visas.
- Introduction of the National Innovation Visa: The BIIP will be closed permanently from July 2024, with a new National Innovation visa to be introduced by the end of 2024.
On 14 May 2024, the Australian Government announced the permanent Migration Program planning levels for the 2024–25 fiscal year, setting a total of 185,000 places. This allocation reflects the government’s commitment to addressing labor shortages, supporting economic growth, and strengthening family and community bonds across the nation.
Breakdown of the Migration Program
The 2024–25 Migration Program maintains a focus on skilled migration, with approximately 70% of the total places allocated to the Skill stream. This emphasis aims to attract highly skilled individuals who can contribute to Australia’s economy and fill critical positions where no Australian workers are available.
Skill Stream Allocations:
- Employer Sponsored Visas: The planning level for Employer Sponsored visas has increased from 36,825 in 2023–24 to 44,000 in 2024–25. This adjustment facilitates a more streamlined pathway for temporary migrants to secure permanent residence through the Temporary Residence Transition Stream.
- State/Territory Nominated and Regional Visas: Both categories have been allocated 33,000 places each, accounting for 36% of the overall planning level and 50% of the Skill stream. These allocations empower jurisdictions to attract skilled migrants tailored to their specific economic and labor force needs, with a particular focus on supporting regional Australia.
- Skilled Independent Visas: The allocation for Skilled Independent visas is set at 16,900 places, a decrease from the previous year’s 30,375. Despite this reduction, the number remains significantly higher than the planning levels during the COVID-19 pandemic.
- Business Innovation and Investment Program (BIIP): The planning level for BIIP visas has been reduced from 1,900 to 1,000 for 2024–25. The government has announced the permanent closure of the BIIP from July 2024, citing poor economic outcomes. A new National Innovation visa is set to replace it by the end of 2024, aiming to attract exceptionally talented migrants.
- Global Talent Visa Program: The allocation for the Global Talent Visa Program has been slightly reduced to 4,000 places, aligning with broader reforms around talent and innovation. This program will transition to the forthcoming National Innovation visa.
Family Stream Allocations:
The Family stream constitutes approximately 30% of the Migration Program, focusing on strengthening family and community bonds in Australia. The Partner and Child visa categories are demand-driven, with indicative planning levels to facilitate family reunification.
Implications and Future Outlook
The 2024–25 Migration Program reflects Australia’s strategic approach to migration, balancing economic needs with social cohesion. By prioritizing skilled migrants, the government aims to address labor shortages in priority sectors and support regional development. The introduction of the National Innovation visa signifies a shift towards attracting high-caliber talent to drive innovation and economic prosperity.
As the global landscape evolves, Australia’s migration policies continue to adapt, ensuring that the nation remains competitive and responsive to both domestic and international challenges. The emphasis on skilled migration, regional support, and innovation underscores the government’s commitment to building a robust and dynamic society.
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