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Immigration Influx Buoys Australia as Mining Boom Fades: Economy

Manoj Wanzare, an Indian fund manager with a master’s in business administration, personifies Australia’s best bet to address the risk of a slump in income growth as the nation’s once-in-a-century mining boom fades.

Wanzare, 37, has the type of education credentials that Australia is singling out for credit in its immigration system. The initiative offers the prospect of increased productivity and a fresh pool of domestic demand amid a slowdown that’s seen the economy expanding at three quarters of a percentage point less than its average of the past decade.