New Zealand
New Zealanders Depart in Record Numbers Amid Economic Strain. New Zealand is witnessing an unprecedented exodus as residents increasingly leave the country, frustrated by rising living costs, high interest rates, and fewer job opportunities. Government statistics reveal that 131,200 people departed New Zealand in the year ending June 2024, marking the highest recorded annual outflow. A significant portion of these individuals, around a third, headed to Australia.
This surge in departures comes despite net migration levels remaining high, but economists predict this too may decline as the country’s economic challenges deter foreign nationals from relocating. Notably, 80,174 of those leaving were New Zealand citizens, nearly double the pre-pandemic figures. During the COVID-19 pandemic, many New Zealanders had returned home, drawn by the government’s effective handling of the crisis. However, that sense of security appears to have diminished.
New Zealand’s economy is struggling, with only 0.2% growth in the first quarter of 2024 and unemployment rising to 4.7% in the second quarter. High inflation, currently at 3.3%, and a substantial hike in the central bank’s cash rate by 521 basis points have further strained the economic environment.
Compounding the issue, Australia has been actively recruiting in sectors such as nursing, policing, and teaching, offering attractive relocation packages to skilled New Zealanders who can work there without visas. Meanwhile, the New Zealand government has undertaken significant downsizing of its public service, leaving many skilled workers unemployed and searching for opportunities abroad.
