Australia fears Bank expats set to return home
‘Why discuss Australia in an Alberta Site?’- This could be the question that would flash across your mind when you see this headline.
Well, there are two reasons. Firstly this relates to a global issue, the recession. Secondly, we came to hear of it from a marketing guy working with Appco Group Australia who was on a visit to Alberta recently.The buzz is that expatriate bankers, from Hong Kong, New York, the UK and even Dubai could return to Australia in the coming months as cause some kind of an employment crisis. The return of the Australian financial service professionals from other countries would be spurred on by two reasons. First is the crisis that other economies are facing and the second is the fact that the Australian dollar remains high despite the global economic slowdown.
But for Australia, this could cause issues. Banks there are already planning to cull staff in the next two years and the coming in of highly skilled and experienced professionals from abroad could cause an employment crisis. The most affected places, as per the Appco professional, would be Sydney and Melbourne.
Subscribe to this comment's feed
