Australia doesn’t expect to reopen its international borders until well into 2022.
The border has been closed since March 2020. That decision has been instrumental in the nation containing COVID-19, but there are big social and economic costs.
The social costs – of families separated, of students and others losing their jobs but being denied government assistance and so on – are hard to quantify.
But we’ve done our best to calculate some of the economic cost. By our reckoning every day the borders remain largely closed is costing at least $36.5 million in lost expenditure.
Calculating the costs of the closed border
Griffith University has launched an innovation platform for start-ups and scale-ups who want to make a difference in the world.
Homebase will be powered by Griffith University, hosted at the Logan Campus and led by the Griffith Business School’s Yunus Centre.
Merging the work of an incubator and accelerator, Homebase will support inclusive and impact-led businesses.
Professor of practice and co-Director of The Yunus Centre Alex Hannant
Professor of practice and co-Director of The Yunus Centre Alex Hannant said impact-led businesses created both social and economic benefits to communities.
“This is a really exciting project with the potential to strengthen community connections and cohesion and improve livelihoods, health and security of people in Logan,” Professor Hannant said.
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