New Zealand’s citizen exodus to Australia accelerated in Q1 2024, reaching 12,471 departures — the highest since March 2013. The surge adds pressure on Prime Minister Christopher Luxon, whose National Party faces a tight election race against Labour on Nov. 7. Opponents blame his government for failing to curb living costs and create jobs, driving citizens to seek higher wages abroad.
Despite the outflow, 13,460 citizens returned in the 12 months through March — the most since September 2021 — resulting in a net exodus of 27,890, the lowest since Q3 2023. The decline in net migration reflects falling overall immigration, with net inflows dropping to 20,503 in the year to August, down from 9,163 in August 2023. The data underscores economic challenges ahead of the election.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing