The economics of multiculturalism - benefits, barriers & business
Migration provides social, human and financial capital for Australia. For instance, refugees and migrants who gain citizenship have a 77 per cent workforce participation rate compared with a national average of 65 per cent. We also know that 30 per cent of Australian small businesses are owned or operated by people born overseas (ABS 2005). In Nhill alone, Karen refugees have added more than $40 million to the local economy (Deloitte Access Economics and AMES).
Harnessing the economic benefits of migration is a smart move for government, business and the community. Strong partnerships, collaborative planning and confident dialogue between stakeholders offer positive outcomes for all sectors.
The 2016 VLGMIN forum will bring together the current research, initiative, thought and practice that enhance these outcomes.
It will also discuss the barriers to benefiting from multiculturalism, such as how discrimination and complex systems can hamper the equitable participation of people from culturally diverse backgrounds.