Immigrants good for economy – NZIER

departure_board__auckland__mount_tongariro_eruption_N2Immigrants good for economy says the NZIER in a recent report.

A leading economic think tank says doubling New Zealand’s annual immigration target could inject an extra $1.8 billion annually into the economy.

The New Zealand Institute of Economic Research (NZIER) is calling for a more ambitious population policy which it says will drive competition in business and push up incomes.

The institute says net migration has averaged around 15,000 over the last decade, well below the government target of between 40,000 and 50,000.

The NZIER suggests doubling that target to about 80,000 people over 10 years would increase GDP per capita by $410 annually during period.

Lead economist Kirdan Lees said the main impact of increasing numbers of skilled immigrants would mean a huge long-term boost in population.

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Read the full article on the Radio New Zealand website.