Canberra, June 23 (TIWN) Regional migration in Australia is at a five-year high with younger people setting the trend, according to data released on Thursday from one of the nation's leading banks and a prominent think tank.

The Commonwealth Bank of Australia (CBA) and the Regional Australia Institute (RAI)’s Regional Movers Index (RMI) recorded a 16.6 per cent jump in the number of people moving away from state capitals such as Sydney and Melbourne during the first three months of this year, reports Xinhua news agency.  RAI chief executive Liz Ritchie said the influx of “Millennials” (aged 24 to 40) and “Gen-Xers” (aged 40 to 56) were welcome additions to the countryside as they “often bring with them business skills to grow the local community, as well as families who integrate into the local school system and community sporting activities”.  Ritchie said regional living was proving especially appealing to growing families seeking “bigger living spaces at a cheaper cost”. 

CBA Executive General Manager of Regional and Agribusiness Paul Fowler said regional areas were providing strong job opportunities for people aged in those demographics.  “Regional Australia is thriving, fuelled by strong investment across a broad range of industries including agriculture, manufacturing, retail and hospitality,” Fowler said.