You're listening to a shares. These podcast were the world champions of comparing ourselves stract to kicker, who's doing it better than us? Right now? I think Australia is definitely up performing us at the moment, and that's because they are, and you know they're Their central bank didn't go as hard on the rate hikes, so therefore the Aussie economy didn't slow down as much. They didn't record a technical recession. They've got a recession in per capita terms, but it's
quite shallow compared to ours. So we just look at the Aussie economy and go, oh man, it's just growing nicer than ours. The labor markets tighter, wage growth is more. They're just more buoyant than we are at the moment, and that's why we've seen a net forty three thousand kiwis leave in the last year. People are heading there then go on to Australia. So we've seen seventy odd thousand kiwis leave and then some coming back. But that net forty three is huge. That's a lot of kiwi's leaving.
It goes in cycles and we saw it in twenty and twelve when the Aussie mining boom was really in full flight and people were going over driving a truck and Perth for like two hundred thousand dollars. Not so much of that these days, not so much of that, but definitely better prospects at the moment. Otherwise we wouldn't be seeing the numbers of Kiwi leaving to Australia. How much of that is off savings and just a stronger, you know, a better national superannuation structure so that people
are putting more money aside. Oh, I mean that's been a strength of Australia for a while. Now. They've got I think the fifth largest sovereign wealth fund on the planets for an economy, which is less than two percent of the global economy. To have that sort of savings there, and you know what, they don't think they've got enough. They are still increasing their compulsory I think it's gone up to twelve percent now. It was nine percent when
I was working there. I tell you what, working thirteen and a half years in Australia, I've actually got this nice little nest egg sitting there that I wouldn't have had otherwise. There's no way I could afford to put nine percent away over that entire period. But it's sitting there and it's great, and we're doing it here now. Should be compulsory, should be a much higher rate. But you know, some things Australians just do do better than us. They dig holes better than us, I can tell you
that much. But we grow stuff on top much better than them. One thing they are pretty good at, and particularly at the state level, is the big infrastructure stuff. You know, they just seem to get stuff done. And I use Sydney as a classic example, where you've got this bridge and it's got heaps lanes, it's got a train track gone both ways, so trains can go across, you can walk down one side, you can cycle across the other side of it. And that was built, you know,
fifty years ago. That's not enough. Their cities grew and they've got a tunnel going underneath. Now you've got fairies, you've got plenty of ways to get across the Sydney Harbor. Right here, You've got a bridge that was built in the sixties, I think, on the cheap. On the cheap, it reached capacity five years later, so we tacked on some clip ons and we've done nothing since. The only other way to get across is with maybe a fiery if you're lucky, or a kayak, right, that's your option,
strong strong swimmers exactly. It's I think it just highlights the difference between us. They can they can deliver these big projects in Australia and they can think a lot further ahead for some reason, and I just wish we would snap out of it. Involves the risk you might lose the money you start with. We recommend talking to a licensed financial advisor. We also recommend reading product disclosure documents before deciding to invest.