March 2020
CORONAVIRUS REALITY & INDUSTRY IMPACT
All we hear these days in the news are reports and updates on coronavirus outbreak. Fear of pandemic, sparked panic buying patterns amongst certain groups of people but more importantly, it created a serious economic pain.
Coronavirus outbreak has also exposed the extraordinary depth of Australia’s economic dependence on China. We are seen as the most China-reliant economy in the developed world, with about a third of our exports going there.
Many industries are scrambling to maintain their usual business. According to the central bank, education industry is amongst one of the most affected sectors in Australia. Chinese students make up the largest portion of international students in Australia, accounting for about 0.6% of the country’s GDP. Data from the education department showed that in 2019, there were more than 261,000 Chinese nationals enrolled in local educational institutions at various levels. In the higher education sector, 37.3% of foreign enrolments were from mainland China. Many local universities are struggling to retain their current student enrolments from China due to the existing travel ban, but they are also concerned of loosing their international students to some other countries in the world where the school starts later in the year.
Beside many other sectors, tourism and immigration are also facing a great deal of hardship with increasing levels of complexity and more countries being added to a travel ban. Further to the Level 4 warnings now in place for China, Iran and South Korea, the Department of Foreign Affairs and Trade is exercising a high degree of caution for any travelling to and from Japan, Italy and Mongolia.
In addition to the deepening financial and economic crisis, media hype propped by local xenophobists may have played a role in fuelling an anti-immigration sentiment. Unfortunately, Australia is no different to the rest of the world. Dr. Shane Geha, the Managing Director of EG Advisory and Urban Planning has spoken about this today on News.com, stating the following: ‘As fears of a recession grow, Australia needs migrants more than ever before, to boost economic output and stem the damage to the hard-hit education, tourism and agriculture industries. Dr. Geha, an urban planning expert has also called for more migrants, not less, in the face of ‘hysteria’ over coronavirus that as he states, could be hijacked by populists to ‘stoke immigration fears’. He further stated: ‘We’ve got a precarious economy that needs itinerant workers, students and tourists. Some industries are entirely reliant on migrant populations for work who are essential contributors to our GDP.’
The coronavirus impact on currently granted visa holders is significant too.
Impact on visa holders outside Australia
Visa holders who have been granted visas but have not yet entered Australia may be impacted in circumstances where their visa condition requires them to enter Australia on or before the period of the travel restriction. Those visa holders who cannot enter by the requisite date will be required to make a new visa application.
Impact on visa holders inside Australia
Current visa holders in Australia who are approaching visa expiry must carefully consider options to depart Australia prior to visa expiry, or look to make a new visa application if they wish to remain in Australia while the travel restriction remains in place. In some cases, it may be necessary for temporary visa holders to seek a waiver of a ‘No Further Stay’ condition on their visa.
For information about visas in relation to Corona Virus, see the following DHA fact sheets:
https://www.homeaffairs.gov.au/news-media/current-alerts/novel-coronavirus
PRICE LIST
BzMark is continuing its business as usual, below is our abbreviated Price List:
Business Plans for all skilled migration cases —-$1,500
Responses to the Department of Home Affairs ——- individually quoted
Business Plans for 188a business innovation and investment visas — $1,700
Business Plans for 132a Business Talent visas —-$2,000
Individually tailored One Day Business Research Tour in all Eastern states — individually quoted based on the state and requirements
Business Management (ideal for 132a visa holders) —- individually quoted
* All prices exclude GST
For further inquiries and /or information on any of the above services, please contact us via: E-mail: [email protected] or the office telephone number: +61 2 8920 0367. We are looking forward to hearing from you.