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BRITISH BRAINS DRAIN DOWN UNDER

BRITISH BRAINS DRAIN DOWN UNDER

50% more Brits will be working in Australian finance services heartland by end of 2010 (compared to 2008) as China powers Aussie economy
69,250 Brits to work in financial services in Sydney and Melbourne by end of year
Wider financial services jobs in Victoria and NSW set to grow 11.1%
27,500 financial services jobs to be created in Victoria and NSW by end of 2010

More British professionals are finding work in Sydney and Melbourne according to executive search firms, Kinsey Allen International and Jon Michel Executive Search. Over the first three months of 2010, the number of vacancies for Australian financial services roles being filled by British workers rose 4 percentage points compared with the same period in 2008.

Growing numbers of Brits are moving from London, turning their backs on the domestic jobs market for the next stage in their career development. There are comparatively more career opportunities in Sydney and Melbourne than in the equivalent Western Europe economies and this is proving the principle drive behind the exodus to Australia.

The bullet proof Australian economy is being powered by its mining sector. As the credit crunch took hold of Western Europe, the Australian economy has proved resilient to shocks that have crippled the Old World, as the fundamental economy has remained strong in face of the global downturn. With China as one of its main export partners, Australia looked set to benefit from the global shift of economic power from the US to China and Asia more than any other major economy.

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