4 ms·

why are so many rich people moving to Australia?

by ameyamk 11y ago

basicplus2 11y ago
As one VERY rich person said to me.. Australia is a rich persons playground
- dbcurtis 11y ago
  What makes it so?
  - zavi 11y ago
    Conservative government http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook44p/Composition44th http://www.aph.gov.au/About_Parliament/Parliamentary_Departm... https://stats.oecd.org/Index.aspx?DataSetCode=UN_DEN https://stats.oecd.org/Index.aspx?DataSetCode=UN_DEN http://www.heritage.org/index/ranking http://www.heritage.org/index/ranking
    - linkregister 11y ago
      Laughable, it's quite solidly Social Democratic. Strong unions, universal health care, full social safety net. It's way harder to fire an employee in Australia than in the United States. A rich person would move to Australia because it's safe and comfortable.
evv555 11y ago
Maybe because it's so close to China.
- boeing 11y ago
  Common misconception, mate: Beijing to Sydney - 12h 0m flight time Beijing to LAX - 12h 0m Beijing to London - 11h 0m
  - oska 11y ago
    Yes, it's not ‘close’. Australia is not really close to anywhere, apart from New Zealand, PNG and Indonesia. But I do think that it helps us being in basically the same timezone as China.
  - evv555 11y ago
    Good to know, thanks.
  - deleted 11y ago
    [deleted]
zmmmmm 11y ago
A very large component of that is wealthy Chinese immigration. I have a feeling that it happens to mesh well with the definitions of "millionaire" because a very common route for Chinese immigrants to come to Australia is through property investment, which intrinsically creates a readily quantifiable asset qualifying them as a millionaire. Further, since property investment by foreigners is restricted, any chinese person who does immigrate immediately becomes a funnel for relatives and friends back home to channel investment money in. So I would suspect that a lot of these "millionaires" are paper millionaires only.
usert1763 11y ago
I moved to Australia around 10 years ago (originally from Poland but traveled the world extensively) and worked in tech since then wishing I did a course in welding or heavy machinery operation instead. Even mining laundry service workers here get 120,000/year salary! The tide is turning though and world's biggest quarry is in trouble.....since China problems are looming more profoundly on Australian economy (China sneezes and Australia catches a nasty cold) more people are looking towards other industries i.e. services, tech, medical and those who used to make a tidy profit in the mines are being let go due to slumping iron ore pricing and weakened demand. In the space of last 12 months iron ore price was cut in half. Add world's most expensive housing prices, climate issues, stalling economy, bogan attitudes (less so with the influx of educated migrants) etc. and Australia has its own share of issues to deal with. All things considered though, I would never want to go back to Europe or move to US. Why? To name a few: stable democratic government, great lifestyle, far away from some of the the loony bins e.g. Putin or not sharing borders with other countries (can get pretty lonely here at times though as to get anywhere is a minimum 10 hours flight), good pay and social support system, lots of nationalities in bigger cities so racial tensions are rare (we all just seem to get along), warm weather etc. Why would I want to live anywhere else? Yes, I could make more money in US, be more culturally aware/inspired in Europe, have cheaper lifestyle in Asia (south-east) etc. but when you look at what's really important in life and narrow it down to a dozen or so factors, especially if having a family is a prospect, nothing comes close to living Downunder. Even Kiwis want to live here. And that comes from someone who lived (at least 16 months) on every continent, except Antarctica and Africa.
- usert1763 11y ago
  Another thing I like about Australia is that it has no cultural and historical debt. Coming from Europe where some of the buildings I use to live in were older then Australia itself, there was always a great sense of pride (sometimes false) to think/say/do things the certain way just because it's what my ancestors believed in. Don't get me wrong, I think that European culture, shaped by its history is one of the best things this continent can be proud of but for some reason living Downunder feels liberating. It does not matter where you come from, what religion you profess, whether you're a gay or straight etc. the pressure of being stigmatized based on your personal values or your origin is non-existent. Aussie history is very young, some may say that excluding Aboriginal people, it's just started so in some ways it feels that migrating here you can start your life with carte blanche without having to conform to any norms or dogmas resulting from entrenched culture as it's the case in other countries. It's far from laissez faire as Australia is somewhat a nanny state (in a good sense) but open-mined and democratic enough to let one be and not interfere or make you feel bad in case you have opposing views (think governments in China, Russia, UAE or culture in Middle East, Asia etc.)

why are so many rich people moving to Australia?

by ameyamk 11y ago

why are so many rich people moving to Australia?

basicplus2 11y ago

As one VERY rich person said to me.. Australia is a rich persons playground

dbcurtis 11y ago
What makes it so?
- zavi 11y ago
  Conservative government http://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BriefingBook44p/Composition44th http://www.aph.gov.au/About_Parliament/Parliamentary_Departm... https://stats.oecd.org/Index.aspx?DataSetCode=UN_DEN https://stats.oecd.org/Index.aspx?DataSetCode=UN_DEN http://www.heritage.org/index/ranking http://www.heritage.org/index/ranking
  - linkregister 11y ago
    Laughable, it's quite solidly Social Democratic. Strong unions, universal health care, full social safety net. It's way harder to fire an employee in Australia than in the United States. A rich person would move to Australia because it's safe and comfortable.

evv555 11y ago

Maybe because it's so close to China.

boeing 11y ago
Common misconception, mate: Beijing to Sydney - 12h 0m flight time Beijing to LAX - 12h 0m Beijing to London - 11h 0m
- oska 11y ago
  Yes, it's not ‘close’. Australia is not really close to anywhere, apart from New Zealand, PNG and Indonesia. But I do think that it helps us being in basically the same timezone as China.
- evv555 11y ago
  Good to know, thanks.
- deleted 11y ago
  [deleted]

zmmmmm 11y ago

A very large component of that is wealthy Chinese immigration. I have a feeling that it happens to mesh well with the definitions of "millionaire" because a very common route for Chinese immigrants to come to Australia is through property investment, which intrinsically creates a readily quantifiable asset qualifying them as a millionaire. Further, since property investment by foreigners is restricted, any chinese person who does immigrate immediately becomes a funnel for relatives and friends back home to channel investment money in. So I would suspect that a lot of these "millionaires" are paper millionaires only.

usert1763 11y ago

I moved to Australia around 10 years ago (originally from Poland but traveled the world extensively) and worked in tech since then wishing I did a course in welding or heavy machinery operation instead. Even mining laundry service workers here get 120,000/year salary! The tide is turning though and world's biggest quarry is in trouble.....since China problems are looming more profoundly on Australian economy (China sneezes and Australia catches a nasty cold) more people are looking towards other industries i.e. services, tech, medical and those who used to make a tidy profit in the mines are being let go due to slumping iron ore pricing and weakened demand. In the space of last 12 months iron ore price was cut in half. Add world's most expensive housing prices, climate issues, stalling economy, bogan attitudes (less so with the influx of educated migrants) etc. and Australia has its own share of issues to deal with. All things considered though, I would never want to go back to Europe or move to US. Why? To name a few: stable democratic government, great lifestyle, far away from some of the the loony bins e.g. Putin or not sharing borders with other countries (can get pretty lonely here at times though as to get anywhere is a minimum 10 hours flight), good pay and social support system, lots of nationalities in bigger cities so racial tensions are rare (we all just seem to get along), warm weather etc. Why would I want to live anywhere else? Yes, I could make more money in US, be more culturally aware/inspired in Europe, have cheaper lifestyle in Asia (south-east) etc. but when you look at what's really important in life and narrow it down to a dozen or so factors, especially if having a family is a prospect, nothing comes close to living Downunder. Even Kiwis want to live here. And that comes from someone who lived (at least 16 months) on every continent, except Antarctica and Africa.

usert1763 11y ago
Another thing I like about Australia is that it has no cultural and historical debt. Coming from Europe where some of the buildings I use to live in were older then Australia itself, there was always a great sense of pride (sometimes false) to think/say/do things the certain way just because it's what my ancestors believed in. Don't get me wrong, I think that European culture, shaped by its history is one of the best things this continent can be proud of but for some reason living Downunder feels liberating. It does not matter where you come from, what religion you profess, whether you're a gay or straight etc. the pressure of being stigmatized based on your personal values or your origin is non-existent. Aussie history is very young, some may say that excluding Aboriginal people, it's just started so in some ways it feels that migrating here you can start your life with carte blanche without having to conform to any norms or dogmas resulting from entrenched culture as it's the case in other countries. It's far from laissez faire as Australia is somewhat a nanny state (in a good sense) but open-mined and democratic enough to let one be and not interfere or make you feel bad in case you have opposing views (think governments in China, Russia, UAE or culture in Middle East, Asia etc.)