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Indians Plan Aussie Finances Before Arrival
10 Aug
Summary
- Most Indian migrants to Australia are skilled workers arriving with family.
- Financial planning is a major concern for over a third before migration.
- Many seek to open savings accounts in Australia before landing.
Prospective Indian migrants are proactively arranging their finances before moving to Australia, with the majority planning to maintain financial ties with their home country. Research indicates that around 70% of these individuals are migrating on skilled visas, and a substantial 85% are accompanied by family members.
Financial planning has emerged as a significant concern for over one-third of prospective migrants. This trend highlights a growing emphasis on pre-migration financial strategies, especially as traditional destinations face changing immigration policies. Many Indian migrants are keen to establish banking relationships, with a significant number aiming to open savings accounts in Australia before they even arrive.
Australia has seen a notable increase in its Indian-born population, becoming the largest overseas-born group. This highlights the country's growing appeal. The desire to manage money across borders is strong, with over 80% of prospective migrants planning regular overseas transfers to support families back in India.
