Immigration, on one hand, opens a host of opportunities for the people who move out from their homelands. On the other hand, it also benefits the country to where the people move to. It solves many problems in the country and helps economies prosper and grow.
Here are the top five benefits of immigration for the economy:
1. Increased economic growth
When people move from one country to another, it leads to a growth in the size of the labor force and an increase in the productive capacity of the economy. It further results in higher economic growth with a corresponding rise in tax revenues. And increased economic activity enhances the spending potential for the government.
2. Future entrepreneurs
When immigrants move from one country to another, they often arrive with some wealth. This wealth acts as an incentive and allows them to try and make something for themselves. Also, people who often leave their own county with an aim to start a fresh life in a new land, are full of ambition. They are willing to take risks and tend to be more dynamic and come up with innovative products. Hence, they make better entrepreneurs.
There are already many examples of immigrants who shook the world with their innovations. For example, (Apple) Steve Jobs' father—Abdul Fattah Jandali was from Syria.
3. Establishing a new chain of demand & growth
It is often believed that once immigrants move to a new place, they take up jobs that are meant for the native-born population. To put it in other words, they basically start replacing the native-born population. But this is not true because the number of jobs does not remain fixed.
When immigrants move to a new country, they will spend their wages in that new country, creating new demand in the service and goods sector.
4. Better trained workforce
Immigration opens new opportunities for skilled aspirants. This also benefits the host company as they get to employ a skilled workforce from across the world. Immigration attracts highly skilled professionals to fill job vacancies and contributes towards higher tax revenue.
5. Solve the aging population problem
Economies around the world, particularly in the west are facing a demographic crunch with a low birth rate and an increasingly aging population. This is causing a rise in the dependency ratio (ratio of old to young workers). This puts a lot of pressure on social care, tax revenues, and impacts government spending. Immigration helps solve this problem easily. Immigrants fill the shortages in the health care and social care sector and cater to the older population.
To conclude, immigration is a win-win situation, for both the people who leave the country and for the economies that these people move to.
If you are also looking forward to moving to a new country, then get in touch with one of the best immigration consultants in Delhi. They will understand your requirements and help you with the documentation and processes to move abroad. They are experts in visa processes and guide you with right information.