What are the Global Trends in Mobility?
Migration is the movement of people from one place to another with the intentions of settling, permanently or temporarily in a new location. The movement is often over long distances and from one country to another although internal migration is also possible. Let’s find out what the key reasons are and global trends of migration.
A decade ago, many highly educated and skilled migrants left their home countries seeking greener pastures. They were called talent migrants. This was mainly due to the uncertainties that prevailed in their home countries. Reasons for migration have changed, economic growth, political instability and even climate change has affected migration.
Let’s take a look at the current mobility trends as of 2019.
1. Wealth Migration
Research has shown that there are estimated 18.2 Million High- Net-Worth individuals in the world (UN World Migration Report, 2018). A HNWI is a person that has assets of at least US$ 1 million. It is estimated that the collective wealth of the HNWI’s surpass US$ 70 Trillion and is likely to exceed US$ 100 Trillion by 2025. Migration of these individuals is beneficial for the nations they move to and these countries are assisted with an increase in their wealth. Research indicates that China, India, Turkey and UK had the biggest outflows of such individuals. The main reasons for wealth migration can be attributed to safety, financial stability, and high taxes, religious or political tensions. Many host countries offer citizenship through investment for these individuals where they can gain citizenship and second passport by investing in the economy or real estate of the host country.
2. Talent Migration
Due to uncertainties in the home country highly educated and highly skilled migrants seek better opportunities in other countries. The UK has been one of the main attractions, however the future of the migrants is still unclear due to the BREXIT, which marks Britain’s exit from the EU (due on 29th March, 2019). Most migrants to UK have migrated seeking educational opportunities and work. With the current unclear situation it is likely that UK may not be a very popular destination among students. Since 2018 US has limited the H-1B visas and as such US seems a less attractive to the talented foreign workers. If the BREXIT takes place it can be said that France, Germany and Ireland would attract the labour force that would drop out or are less likely to consider the US and UK.
3. Forced Migration
Yes, you read it right. According to a report by the UN refugee agency (UNHCR), 40 million people are internally displaced and close to 28.5 million have fled their countries. These include refugees from Palestine, Somalia, Myanmar, South Sudan, Afghanistan and Syria. Most of these persons have been forcibly displaced (around 85%). Countries like Iran, Lebanon, Pakistan, Uganda and Turkey host these refugees. Main reasons for forced migration is conflict, persecution, or generalised violence. It is said that 31 persons are forced to leave their home every minute each day.
4. Climate Migration
Meanwhile, people migrate due to Global Warming and Global risks such as weapons of mass destruction; extreme weather events; natural disasters; failure of climate, change mitigation and adaptation; water crises; cyber-attacks; food crises; biodiversity loss and ecosystem collapse; and large-scale involuntary migration. Extreme weather and climate changes such as cyclones, rise of sea levels or drought displaces people as they seek refuge in migration. Although there are interventions to mitigate these migration circumstances it is likely to further increase.
The Caribbean remains the most appealing migration destination for economic and personal reasons. If you are seeking migration to the Caribbean, St Lucia offers a Citizenship by Investment programme. Appointed by the government of St Lucia, Global Citizenship Advisory Partners Inc, is an authorised marketing agent for the promotion of Saint Lucia’s Citizenship by Investment Programme. It has its head office located in UK and a representative office in St. Lucia.