If you are planning to move abroad for a job, there is some good news for you.
The latest World Development Report by the World Bank states that it is more viable for Indians to move abroad.
According to the report, Indian workers see a 120% rise in their incomes outside India, while internal migration within India will only add about 40% to personal incomes.
“Migration leads to large wage increases for most people whose skills and attributes are a strong match with the needs of the destination society. These gains often exceed what could be achieved in the country of origin, even from internal migration to relatively better-off locations,” says the report.
Moving abroad is even more rewarding for low-skilled workers from less developed and developing countries such as India.
A low-skilled Indian worker is likely to see a whopping 500 percent rise in income in the United States. The United Arab Emirates is the next favorite destination for low-skilled workers, who can earn 300 percent more than in India.
“The gains are so large that at current rates of economic growth it would take decades for the average low-skilled person working in some countries of origin to earn the income they achieve by migrating to a high-income country,” notes the report.
Migration of talented Indians to the developed world has often been dubbed “brain drain” in the media. While there may well be some truth in it, the World Bank report argues that “brain drain” may have played a role in India’s Information Technology revolution.
Many techies from India have not only prospered in the Silicon Valley but also become an integral part of the Indian diaspora — the largest in the world. Sundar Pichai, Satya Nadella and Arvind Krishna are some of the best examples of Indian migrants making it big in the US.
These illustrious names, the report argues, have helped develop industries in India by transferring knowledge and fostering innovation.
“Indian migrants in California’s Silicon Valley have launched large Information Technology–related firms in India. In 2006, firms established by returnees accounted for some 90 percent of firms in software technology parks in Bangalore,” notes the report.
In many cases, migration to developed countries can economically help the country of origin.
“Remittances are a stable source of income for migrants’ families, supporting investments in children’s education, health care, housing, and entrepreneurial activities,” observes the report.
