In the year leading up to November 2024, a record number of people left New Zealand, according to data released by Statistics New Zealand. A total of 127,800 individuals departed the country, marking a 28% increase compared to the previous year. More than half of those leaving were New Zealand citizens. This exodus reflects the economic challenges faced by the country, which slipped into a technical recession in the third quarter. The weak economy has driven many to seek work opportunities elsewhere, with Australia being a popular destination due to its stronger economy.
Despite the high number of people leaving, New Zealand continues to experience inward migration. Net migration, which accounts for the difference between those immigrating and emigrating, stood at 30,600 in the year to November 2024. While this figure is significantly lower than the peak of 135,700 in October 2023, it still supports the country’s economy in the long term. Economists believe that New Zealand remains an attractive place to live for many, although other countries such as Australia, the U.S., and the UK also offer enticing opportunities. As New Zealand navigates these challenges, maintaining a balance between inbound and outbound migration will be crucial for the country’s economic growth.
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