Movement of the people!
International migration is a large and fast growing phenomenon.
Image Rights: Faraways / Shutterstock.com
With more than 230 million people now living outside their country of origin it is a market that is evolving in scope, complexity and impact due to various dynamics often triggered by decisions around lifestyle change, tax benefits, employment opportunities, education, economic pressure, political instability, conflicts and now even the environment.
In recent months there has been much publicity across the western world about the wave of immigration from east/southern Europe and Africa, into north-west Europe including the UK. This volume is also swollen by those returning to their native territories from overseas; some of whom have been absent for more than a decade.
The instability of the Euro-region economies and civil wars in countries such as Somalia and Sierra Leone have resulted in those needing financial security and safety, particularly young families, moving to safer ground. Meanwhile retiring sun-seekers with tangible investments and pensions have been snapping up Mediterranean property bargains in the wake of the economic downturn in Greece, Italy, Spain and Portugal.
For some returning to their country of origin from wherever they reside in the world holds no appeal and so they have flown further afield to find new opportunities creating and adding to expat hot-spots in places such as Dubai, Singapore, Kuala Lumpur and Hong Kong.
The volume of Ukrainians residing in Russia and Russians in the Ukraine is almost equal; and so the outcomes across this region will inevitably result in migration between these territories in both directions; but undoubtedly some, especially youth will want out altogether and apply to move on.
Meanwhile the Canadian Government has launched an incentive based drive recalling its skilled nationals and to lure as many other qualified professionals and entrepreneurs that speak English, as part of a proactive strategy to sure-up and safe-guard its economy and infrastructure.
The Chinese middle classes have been keen to take up this invitation creating the longest green card queue. They are also queuing in their droves to enter the US, Australia, New Zealand and Italy and any other destination that offers clean air and water, a more relaxed lifestyle and no ‘one child policy’.
Today, virtually all countries in the world are simultaneously countries of destination, origin and transit for singular and family-unit migrants; and each of them is a consumer often with very specific requirements due to their personal set of circumstances.
Whether on a temporary or permanent basis, an expatriate is somebody that for whatever reason lives outside their country of origin for more than 6 months out of 12 each year. The combined total volume of expats globally equates to the equivalent of the world’s 5thlargest country and their spending power amounts to the 3rdstrongest economy; and this ranking is climbing as more and more high net worth individuals elect to reside overseas.
As human globalisation continues to escalate, those companies that service and supply those on the move will need to be acutely in tune with their needs and behaviours; as well as how to connect with them if they are to remain relevant, competitive and maintain market share.
