Migrants and baby boom sheltered us from crisis

The fertility gods may have saved Australia from the global financial crisis, but it has cost Queensland its position as preferred destination for interstate migrants.

A new report commissioned by chartered accountants PKF has found that Queensland's appeal as a place to work and live has begun to wane among Australians.

"Mining jobs are being lost and tourism jobs are following a similar fate, leaving the rest of Australia a little less tempted to follow the sun and move north," said the PKF report which was compiled by Access Economics.

But the report, released yesterday, said international migration has taken up the slack, helping the state to a net annual gain of 106,700 people, the second biggest rise of any state.

"While Queensland's population is the good news, over the past year it accelerated much less than the national equivalent," said the PKF report.

It also said that, while international migration was strong, it was below the national growth trend.

Australian Bureau of Statistics figures last month revealed overseas migration and a higher birth rate had pushed Australia's population to just less than 22 million.

It was the biggest population spurt in 40 years and a key factor in the country's resilience against the global economic downturn.

"Arguably the unsung hero of Australia's defense against the downturn has been our magnificent population growth," said Mike Sheehy, managing director of PKF Gold Coast.

"People power is part of what is driving us along relative to others.

"Put simply, more people equal more customers, and therefore more jobs."

But despite the strong numbers, Mr Sheehy said the economic slowdown had taken the steam out of Queensland's population momentum, particularly in regions outside of the southeast corner.

Mr Sheehy said while the Gold Coast had suffered on the economic front more than the rest of the state, it would continue to lure its fair share of migrants.

"We are an attractive area in our own right, whereas in the rest of the state the pull is more contingent on economic drivers," he said.

"Anecdotally, promising signs of green shoots are emerging across key Gold Coast industry sectors. The medium-to-long-term outlook is returning to optimistic."

However, PKF's director Matthew Field has warned the 'sunbelt' states of Queensland and WA may yet see a 'delayed impact' on the economy 'as resources work and construction continue to wind down'.

But he also saw opportunity in big population gains, particularly from international migrants.

"These are the customers that businesses should target: new Australians who need homes, furnishings, clothes, food, everything to start their new life in this country," he said.

"Not only are migrants the most likely to spend money and push forward the economy, they will also help create a demand for new services and more jobs.

"An open migration policy has been, and will continue to be, important to the success of Australia's economic environment.

"The challenge for businesses is to identify the gaps or the slow growth areas in their states and work to address them."

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