Countries vie for talent that can drive innovation and economic prosperity
Given that the world is now more interconnected than ever before, the movement of skilled labor across borders is not just a symbol of economic integration but also a critical driver for innovation and growth in many industries. Deel's latest global mobility trends report for March 2024 captures these patterns and preferences among global skilled workers. The findings bring out the point that a demand for skilled workers, particularly in technology and related industries, has increased through the years.
Countries vie for talent that can drive innovation and economic prosperity. Spain, Great Britain and Canada are leading the charge in attracting these professionals, leveraging their unique advantages such as favorable climates, robust startup ecosystems, and competitive salaries. However, the migration landscape is not without its challenges. Stringent visa requirements, economic uncertainties, and evolving immigration policies are significant factors that skilled migrants must navigate.
NB: The report by Deel on the trends of global mobility in 2024 investigates, first and foremost, those areas in which the company perceives potential for profit: visa preferences and migration patterns for skilled workers. Please notice that this report doesn't cover Digital Nomad visa options, passive sources of income, golden passports, and all other appealing relocation methods. It's important for you to understand that it may not cover all aspects of global mobility that could be of interest to you. For a broader view on various ways to move internationally, you might want to read our blog at migrun.tech.
These trends are reshaping the workforce landscape, as countries compete to attract top talent by offering favorable economic conditions and innovative environments.
The percentage of expatriates among newly added, full-time employees on Deel's platform rose to 27% in 2023, up from 25% in 2022. This indicates a growing willingness and capability of skilled workers to relocate internationally for better opportunities.
Spain, Great Britain, and Canada emerged as top destinations for skilled migrants, reflecting their strong economic performance and attractive living conditions. These countries have become hubs for innovation, particularly in software development and other tech-related fields.
India, the United States, and Great Britain are the primary sources of skilled migrants. These countries have large pools of highly educated and experienced professionals who seek better opportunities abroad due to various factors, including higher salaries, better quality of life, and more favorable immigration policies in destination countries.
The United States remains a highly coveted destination despite its complex immigration process, with visas like the O-1 and EB-1A being particularly popular among top-tier talent. Other countries, such as the UAE and the Netherlands, offer attractive visa options that cater to highly skilled professionals.
Recent changes in immigration policies in key destinations like Canada and the United States highlight the dynamic nature of global mobility. These changes often aim to balance the influx of skilled migrants with domestic economic needs and political considerations.
In 2023 Spain, Great Britain, and Canada emerged as the top employers of expatriates. In Europe, roles in software, product management, and sales are highly sought after. Spain attracts workers primarily from within the European Union (EU) due to its cultural richness and favorable climate. In Canada, technical roles dominate, with skilled migrants coming from India, Ukraine, China, and France. Software engineers in Canada can earn up to $197,000 annually, while product designers can earn up to $191,000. Of course, one should not forget about local peculiarities, position in geography and lack of language barriers. All this also affects the distribution of migrants across countries.
Source: Deel tech migration report
If you are a skilled professional planning an international move, it is essential to choose a country where your skills are in demand. Here is a simple guideline to tailor your choice:
Choosing the correct country is not just about who is hiring but also about how much the local economic context resembles yours and whether enough jobs are going in your line of work. Before you decide, consider the details of visa requirements and how taxes work to consider how it may affect your professional journey and personal life. Such an approach guarantees that your move will be successful and well-informed.
India, the United States, and Great Britain lead as the top countries of origin for skilled migrants in 2023. Canada is a favored destination for Indian professionals due to high salaries, relatively friendly immigration policies, and established expat communities. Large pools of Indian expats in Canada make reunification with networks commonplace. The United Arab Emirates (UAE) offers more flexible immigration options and proximity to India. The United States remains a top destination for skilled migrants, especially in technology sectors, despite its challenging immigration barriers.
Source: Deel tech migration report
If you're planning a move out from a developing country, some lessons from Indian expatriates' experience would be very helpful. Here is what you can do:
Plunging into long-established migrant communities does not only smooth your transition but also increases your chances of success in the new country. They will assist with how to deal with local bureaucracies, find accommodation, and grasp cultural subtleties. Far from home, these communities offer some sense of community and come a long way in reducing the isolation often felt after moving. Active engagement in these networks can make all the difference in your personal and professional life in the new host country.
In 2023, the United States was the most sought-after destination for visa applications among highly skilled workers. The most popular visas include the O-1 for individuals with extraordinary abilities and the EB-1A for exceptional talents. The UAE’s Golden Visa, which offers ten-year residency and favorable tax treatment, is also highly desired. Other notable visas include the Highly Skilled Migrant visa for the Netherlands and the EU Blue Card for Germany and France.
Upon careful consideration of your migration choices, the fine details of different visas should be brought into daylight. In case you are very highly skilled or possess a graduate level of visa, determine your options related to visas that can get you premium opportunities and work conditions. Here are some customized recommendations for your migration journey:
Having a general understanding of highly skilled migrant programs and associated visa requirements can help you plot your migration path more effectively. Obtain all necessary documents and take advice from professionals of skill migration services to increase your chances of being granted the desired visa. This strategic approach assures not only the choice of a country to migrate to but also secures the future with an alignment of present career goals and aspirations.
Canada and the United States introduced several significant changes to their immigration policies in 2023. Canada raised the financial requirement for study permits to $20,635, plans to limit student visas by 30% in 2024, and discontinued the 18-month work permit extension for post-graduation. The United States increased fees for various visas, including the O-1 and L-1 visas, and implemented a new "beneficiary-centric" lottery selection process for H-1B visas, limiting applicants to one selection per passport number.
Understanding the latest shifts in immigration policies is crucial for anyone planning to move to Canada or the United States. These changes not only influence your application process but also affect your financial planning and strategic decisions regarding your relocation.
Staying informed about legislative changes is vital for effective immigration planning. It allows you to adapt your strategies and ensures you meet all new requirements. Regularly visit official immigration websites and engage with immigration experts to keep abreast of these changes and understand their implications for your plans.
The findings from the Deel report on global mobility trends highlight significant opportunities and challenges for skilled migrants. By understanding the key trends, popular destinations, visa preferences, and policy changes, migrants from developing countries can better navigate the complex landscape of international employment and immigration. Preparing in advance, leveraging professional networks, and staying informed about policy changes are crucial steps for a successful migration journey.
