Australia set for 39 million people by mid-2060s – but slower population growth
The Intergenerational Report projects population growth slowing from an average of 1.4% a year over the last 40 years to 0.9% a year over the coming four decades.
Australia's population is projected to reach 39.3 million by mid-2060s, according to the Intergenerational Report released on Monday. This represents a slowdown in population growth, which is expected to average 0.9% per year over the next four decades, compared to 1.4% annually over the past four decades. Treasurer Jim Chalmers attributes the slower growth to longer life expectancies, lower fertility rates, and increased family sizes.
He notes that living standards are projected to rise, and people will retire with larger superannuation accounts. The report also highlights the growing influence of artificial intelligence, which was given a central role in this projection. Prime Minister Anthony Albanese emphasized Australia's lead on social media restrictions and its proposed Digital Duty of Care legislation as examples of the country's progressive approach to technology.
The report suggests Australia's economy will be twice as large as it is today in 40 years, driven by services and cleaner energy, while also acknowledging a more fragmented and uncertain world.
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