The Federation of Ethnic Communities’ Councils of Australia (FECCA) welcomes the release of a new report which demonstrates that improving social inclusion could generate a $12.7 billion boost annually to the Australian economy.
The Deloitte Access Economics report, titled The Economic Benefits of Improving Social Inclusion, quantifies how greater social inclusion could lead to better employment and health outcomes, increased workplace productivity, and reduced the cost of social services.
Specifically, the report found that greater social inclusion means people are less likely to
experience discrimination, increasing their capacity to seek employment or gain longer working hours and delivering economic and social benefits worth $1.2 billion a year.
The report also found that the impact of social inclusion in improving health outcomes for migrant communities is estimated at $6.5 billion a year.
FECCA Chairperson Ms Mary Patetsos welcomed the Deloitte report.
“It is of course well known that first generation migrants to Australia have found great success, particularly in business, and have contributed substantially to the Australian economy over many decades,” she said.
“What this report shows us is that by improving social inclusion in Australia we can unlock even more productivity from our migrant communities.
“By fighting discrimination in our workplaces we can help those from diverse backgrounds take on greater responsibility and work more hours, and by creating a more inclusive society more generally we can slash health costs in our communities by billions of dollars each year.
“Combating racism and fostering greater acceptance and understanding of those from diverse backgrounds is not only a more imperative, it’s also an economic one, and FECCA encourages Governments and employers to use these findings as motivation for improving social inclusion in Australian workplaces and institutions.”
FECCA is the peak, national body representing Australians from culturally and linguistically diverse (CALD) backgrounds. FECCA’s role is to advocate and promote issues on behalf of its constituency to government, business and the broader community.