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The warming will likely cause a number of key trends:
Accelerated sea level rise and worsening coastal erosion. Increased weather intensity including Category 6 cyclones. More frequent and extreme bushfires.
New research suggests that, if the planet keeps warming at current rates, much of the top third of Australia could soon be too hot for people to live in.
Australia and New Zealand's sea levels will rise at rates higher than the global average. There'll be a 50% increase in bushfires – the Black Summer Bushfires were just the beginning. Floods follow fires, so those heavy rainfalls brought by La Niña will become the norm.
An ageing population, escalating pressures in the health system and climate change pose long-term challenges for Australia's economic growth, living standards and government finances. Failure to act now to tackle intergenerational challenges will result in severe economic, fiscal and environmental consequences.
Australia's economic recovery is leading the world. More Australians are in work than ever before and the unemployment rate is now forecast to reach 3¾ per cent in 2022, the lowest rate in close to 50 years.
Australia's outlook remains strong. The IMF forecasts the Australian economy will grow by 1.6% in 2023. This means Australia will again outperform other advanced economies, which are expected to grow by an average of just 1.3%. This follows Australia's solid 5.2% growth in 2021 and an estimated growth of 3.7% in 2022.
The report stated there was “very high confidence” that temperatures would rise across Australia throughout the century, with the average annual temperature set to be up to 1.3C warmer in 2030 compared with the average experienced between 1986 and 2005.
Africa and the Arab World will shape our future, while Europe and Asia will recede in their influence. By the end of the century, the world will be multipolar, with India, Nigeria, China, and the US the dominant powers. This will truly be a new world and one we should be preparing for today.”
According to a new Climate Council report, by 2040, summertime temperatures on hot days in Sydney and Melbourne will be approaching 50 degrees, making summer sport as it is played at present untenable.
A UK study rated Tasmania one of the best places to survive a collapse in society. Scientists say Tasmania's climate, agricultural resources and electricity supply make it an ideal refuge should "things go pear-shaped"
By 2050, the Thredbo area in the NSW Snowy Mountains will have a longer and hotter winter in store, with temperature increases of 4.8°C in the next few decades. And Sydney's western suburbs, urban areas like Penrith are set to experience 86 additional days of temperatures higher than 30°C.
Population, society and the economy
Australia's population will increase by 50-100% by 2050. The proportion of the population living in the north and west is projected to increase at the expense of smaller southern states. Median age will increase from the 36.8 years of 2007 to between 41.9 and 45.2 years.
As a result, six of the seven largest economies in the world are projected to be emerging economies in 2050 led by China (1st), India (2nd) and Indonesia (4th)
Australia will need to triple the National Electricity Market's power capacity by 2030 to be on track for net zero by 2050 – requiring a rapid rollout of wind and solar power, transmission, storage, electric vehicles, and heat pumps as we replace our coal fleet, new research shows.
Australia could maintain its world-class, highly liveable cities, while increasing its population to 41 million people by 2060. Urban congestion could be reduced, with per capita passenger vehicle travel 45% lower than today in the Outlook Vision.
According to a recent report by Harvard University, “From economic complexity growth estimates, India is growing at the annual list at the rate of 7.9 percent as the fastest growing country for the coming decade.
United States of America The United States is the world's most powerful country, with a dominant military, economic strength, and cultural influence.
Current outlook for Australia
the time in drought will increase across southern Australia. snow depths will decline. extreme rainfall events will become more intense. sea levels will rise.
Australia is experiencing higher temperatures, more extreme droughts, fire seasons, floods and more extreme weather due to climate change. Rising sea levels add to the intensity of high-sea-level events and threaten housing and infrastructure. The number of days that break heat records has doubled in the past 50 years.
The Bureau of Meteorology has released its long-range forecast for autumn 2023 and it indicates coming months are likely to be drier and warmer than usual across most of Australia.
Wealthy individuals are exposed to a higher quality of life because of their frequent travels abroad. Moving to another country gives them an opportunity to live this high quality of life. Other reasons to migrate could be favorable tax laws or a better business environment.
With 126,900 millionaires, Sydney made it to number 10 with the report noting especially strong growth in wealth in the Harbour City over the past 20 years, making it Australia's wealthiest city.
Australians are the richest people in the world, with a median wealth three times that of the average American, a new report has shown.