Volatile times are times for more insights and bolder decision making.
Australia’s population growth has historically been largely driven by overseas migration. Without this, Australia’s population growth will stop and ultimately decline.
It may surprise many that Australia is finding it difficult to attract new migrants at the rate we were pre-pandemic. This is having an impact on demand for goods and services, and even more concerning, it is undermining our supply of skilled labour. Both things are hitting our economy, which is largely structured around the assumption of population growth. There is an important tension between increasing productivity and importing labour.
The debate around the role that overseas migration plays in our society and economy has been minimal and stunted by politics over the past 30 years. Independent expert forecasting and story telling can help to overcome that.
.id’s forecasting work, using bottom-up supply side forecasting methods, tempered by top-down methods provides profound insights not only for overall demand (and supply implications), but also for connecting people with place, connecting business with place and connecting government with place.
There is a significant insight gap in understanding the role that places play and how they are functioning in response the climate, pandemic, economic and social change - whether it be states, regions, cities or suburbs.
It is our mission to close that gap.
Ivan
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