The SMH published an article yesterday stating that Australia will be the world's fastest growing industrialised nation over the next four decades, with a rate of population growth higher even than India.
Only Saudi Arabia is projected to have higher population growth. And unsurprisingly the two countries with by far the lowest rates are Japan and Russia.
Notably New Zealand does not register a figure on the graphic above. As Australians and New Zealanders are free to live and work in either country, it will be interesting to see how such strong population growth in Australia alters demographics and population in New Zealand, and whether the current open immigration policy between the two nations survives.
As long as education levels, standard of living and decent urban planning are maintained, it can only be a good thing for economic growth. More throughput for most businesses, all things being equal, means asset prices will do fairly nicely from the population increase. A higher critical mass of population will also mean higher levels of internal demand - this is useful when your economy is currently largely predicated on exports and has a volatile commodity driven currency.
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