In today’s world, one of the biggest challenges facing business models is the immigration regulation of highly skilled workers. This, whether due to globalization or the specificity in technological development, marks the beginning of challenges that all entrepreneurs must face if they want to develop their craft today. Creating appropriate regulations regarding migration and understanding their benefits is a key solution to one of the difficulties presented by modern economic growth.
The pressing situation regarding the demand for skilled labor or professionals led states to regulate this new human behavior, previously not anticipated and seen as potentially catastrophic. With the rise of the industrial revolution and the growth of capitalism, mass movements of people from one country to another became necessary, creating a symbiotic relationship between the host country and the emigrant.
Thousands of economic factors and cultural wealth are measurable benefits of this process. Among the many benefits we can mention, whether for the host country or the emigrant, there are:
- Increase in productivity, for example, the arrival of highly trained software engineers can accelerate innovation in the technology industry of the host country, or specialized doctors can improve public health standards.
- Innovation and knowledge transfer, as professionals are often exposed to different work cultures and technical approaches. By bringing this knowledge and experience to the host country, they can contribute significantly to innovation. The diversity of perspectives fosters creativity and allows for the creation of new solutions to existing problems.
- Improvement of human capital, for instance, when professional migrants collaborate with universities and research centers, increasing opportunities for developing new technologies and generating knowledge applicable to various industries.
- Economic growth, specifically by meeting labor demands in key sectors facing a talent shortage. This can stimulate economic activity in areas such as technology, healthcare, finance, and education.
- Cultural diversity contributes to development in the host country, enriching society as a whole. The diversity of backgrounds, ideas, and work approaches can lead to the creation of new products, services, and solutions that otherwise might not have emerged in a homogeneous environment. Companies benefit by attracting customers from different cultures and regions, expanding their market.
- Increase in foreign investment, as professional migrants not only contribute to local economic development but also help attract foreign direct investment. Professionals from different countries or regions can establish international networks connecting local businesses with foreign investors, helping to increase investment in key sectors of the economy.
In 2018, the United Nations, through the UN High Commissioner for Human Rights, was finally able to formalize several decades of efforts towards orderly migration with the Global Compact for Safe, Orderly and Regular Migration. This compact provides a legal framework and creates regulatory principles for both countries and regions, outlining clear mechanisms to implement and protect rights in relation to migration processes.
Conclusion
This framework will inevitably generate greater social, political, and, above all, economic wealth. The same scenarios from the past, benefiting from human mobility in search of labor gratification, have made cultural evolution possible in various countries, and this continues to be advantageous to this day.