Since inception, we have covered the Global Talent Visa and marvelled at how it has slowly integrated itself into the Australian migration policy landscape. Our dialogue surrounding its coverage has been nothing but positive and hopeful, but it is a specific limb of the Global Talent Visa, the Global Talent Independent Program (‘the GTIP’) that is attracting the most attention.
Australia and The Global Talent Competitive Index
The Global Talent Competitive Index (‘GTCI’) is an annual benchmarking report that measures and ranks countries based on their ability to grow, attract and retain talent. The index was first launched in 2014 and provides a wealth of data and critical information to decision markers with respect to the global talent market, assisting said decision marker in developing talent strategies, overcoming talent mismatches and becoming more competitive in the global marketplace.
In relation to its 132 counterparts, Australia has comfortably sat outside of the top ten countries for the last few years. But in 2020, Australia has cracked into the list of the top 10 countries for talent competitiveness, surpassing Germany, and population dense states such as the United Kingdom and Canada.
What events have led to this shift? Let’s draw a timeline shall we; –
- On 1 July 2018 the Global Talent Visa was introduced, initially in a pilot program format and then granted an extension after stakeholder consultation, with the end nowhere in sight (queue a sigh of relief).
- On 4 November 2019, the Australian Government officially launched the GTIP as a counterpart of Global Talent Visa.
- As of 2020 Australia has ranked as number 10 in the list of countries for talent competitiveness.
Does this timeline highlight a coincidence or a direct correlation?
In the Words of GTCI
“Many countries are struggling to leverage the skill sets of their workforce or train them in relevant skills for the future
Countries are competing globally to grow better talent; attract the talent they need and retain those workers who contribute to competitiveness, innovation, and growth. Countries seek to put economic and social policies in place that will facilitate this. In such a context, governments, businesses and various other stakeholders need quantitative instruments that can inform their decisions and can help them design and implement better policies in areas such as education, employment, and immigration to name a few. This is the purpose of the GTCI.”
According to a Work and Career report in the AFR, Australia’s impressive rank can be attributed to the nations healthy policies and practices, particularly the launch of the GTIP which is a high-skilled migration stream that promises to fast-track visas for 5000 of the world’s best and brighter every year and an aim of entrenching high-tech industries in Australia.
This argument has strong merit – our rigorous standards and requirements when it comes to skilled labour as well as our ability to create pinpoint policies are not only the result of welcoming highly talented individuals but also a measure that has been recently replicated by more senior countries such as the United Kingdom who, amid Brexit, have unveiled plans to revamp current migration policies and standards by moving on from cheap Eastern European labour to skilled workers from English-speaking countries. Following the transition period which ends on 31 December 2020, the new rules will require applicants to have a job offer and the required skills for that job, speak English and in most cases be earning a minimum of £25,600 ($50,000).
But policy aside, there is also something to be said about the strength of the Australian landscape which naturally attracts migrant work. Our golden soil is home to a number of privileges and pleasant experiences including the safety of the country (thanks to conservative and rigorous gun control), the celebration of multiculturalism and acceptance for immigrants, the work-life balance, the (generous) minimum wage and of course our beaches.
On that note, if you are looking for assistance with a skilled visa or the Global Talent Visa and its streams you can reach out to one of our consultants via email@example.com or give us a call on (02) 8234 8400 to schedule a consultation.