More than four in five recent migrants to Australia regard saving for the future as a key financial goal, with property ownership and wealth creation also among their priorities, according to research commissioned by NAB.
The research, conducted for the bank by RFI Global, found 84 per cent of recent migrants identified saving for the future as an important goal as they established themselves in Australia.
NAB did not provide details of the survey sample size or methodology in material accompanying the findings.
The research comes as Australia’s Indian-born population continues to grow rapidly. Australian Bureau of Statistics figures show 971,020 people born in India were living in Australia at June 30, 2025, making India the largest overseas country of birth for the first time on record, narrowly ahead of England. The Indian-born population has increased by more than 522,000 since 2015.
NAB executive for Personal Everyday Banking Sweta Mehra said the financial decisions migrants made after arriving in Australia often reflected longer-term ambitions around education, employment, housing and business ownership.
“Every new arrival brings their own story of ambition – whether that is pursuing an education, building a career, supporting family, buying a home or starting a business,” Ms Mehra said.
“At NAB, we’re committed to helping customers through the important milestones that come with building a life in Australia.”
One of those business owners is Ramneek Wayne, co-founder of Aunty Jenny Spices, which began with an effort to prepare Indian food using preservative-free spices for his in-laws and has since developed into a national retail business.
Wayne said building the company had reflected many of the pressures and aspirations that came with starting again in a new country.
“Like many migrants, we came to Australia in pursuit of an opportunity and to build a better future rather than wait for one. Building a business from the ground up has been hard work, and that’s exactly what has made it worth it,” he said.
The company sources spices directly from farms and uses recipes drawn from the family’s Indian background. Its products are now stocked in more than 200 stores across Australia, with the business planning to expand to about 800 stores by the end of the year.
“Aunty Jenny Spices came out of our culture, our family and the flavours we grew up with. What started as a small idea is now a business we’re proud of, connecting with customers right across Australia. Our heritage is the root of what we do, not the ceiling,” Wayne said.
He said the experience of establishing the business had required persistence rather than relying on circumstances to fall into place.
“Migration isn’t about luck. It’s about knowing what you’re willing to work for, backing yourself, and striving to build something that lasts.”
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