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U.S. News & World Report’s annual Best Countries Ranking for 2024 has Switzerland again at the top, followed by Japan, the United States, Canada and Australia, Sweden, Germany, UK, New Zealand and Denmark. European countries made up the majority of the top 25, holding 15 spots in the 2024 rankings. Two Middle Eastern countries ranked are UAE and Qatar while Japan, Singapore, China and South Korea represented Asia. The Best Countries rankings is based on a global survey in which nearly 17,000 people across 36 nations associated top 89 countries with 73 specific attributes, ranging from “dynamic,” “safe” and “a leader” to “cares about human rights,” “economically stable” and “committed to social justice.” Attributes were grouped into 10 thematic sub-rankings that rolled into the Best Countries rankings: Adventure, Agility, Cultural Influence,  Entrepreneurship, Heritage, Movers, Open for Business, Power, Quality of Life and Social Purpose. The 89 countries in the report scope account for about 96% of global GDP and represent nearly 80% of the world's population across all continents. Each of the 89 had to meet four benchmark criteria to be included in the study for being at the Top in GDP, foreign direct investment inflows, international tourism arrivals and leading in the U.N.'s Human Development Index. #BestCountries

Canada has secured the 4th spot in the 2024 U.S. News & World Report rankings of the world's Best Countries? 🌟 This prestigious report evaluates 89 nations on 73 attributes such as quality of life, entrepreneurship, and openness to business. Here’s why Canada stands out: ✅ Quality of Life: Canada excels in offering an excellent standard of living, making it a top choice for immigrants. ✅Open for Business: With favorable conditions for entrepreneurship and business, Canada is an economic hub for growth. ✅ Future Growth: Canada’s potential for future development and innovation remains high, cementing its spot among global leaders. What does this mean for you? If you're considering immigration, Canada’s consistent global recognition as a top country ensures you’re making the right choice for a brighter future. 🌍🇨🇦 Which country do you think deserves to be in the Top 10 🤔 #CanadaImmigration #TopCountries2024 #MoveToCanada #QualityOfLife #BestCountries https://lnkd.in/d--jYyjr

The "Index of Economic Freedom" is published every year by the Heritage Foundation and it serves as a measure of the level of freedom that individuals are allowed to work, produce, consume, and invest in any way they please in a society. In economically free societies, governments allow labor, capital, and goods to move freely. Economic Freedom grading is assessed under 4 broad pillars: - Rule of Law (property rights, government integrity, judicial effectiveness); - Government Size (government spending, tax burden, fiscal health); - Regulatory Efficiency (business freedom, labor freedom, monetary freedom); and - Open Markets (trade freedom, investment freedom, financial freedom). #Singapore rates as the #1 world's freest economy and 7 countries from the top 10 hail from Europe. Very interesting to note that in 2023 #Mauritius and the #UAE were leading the race for #Africa and #MiddleEast regions respectively staying on par with the US and ranking better than countries United Kingdom, France, Italy and Spain globally. In the recently published 2024 report both these countries' scores and ranking have further increased to #19 for Mauritius with a score of 71.5 and UAE at #22 with a 71.1 score. This comes as a result of the respective governments adopting policies that prioritize market openness, entrepreneurship, and investor-friendly environments to attract investment and drive economic growth. It is therefore no surprise either to find these countries quite high in the Ease of Doing Business rankings. At GoGlobal, we are truly Global and we have tailormade solutions that enable companies harness the potential and enjoy the benefits that comes with expanding into 80+ countries across the world including those that sit at the top of these rankings. With our vast suite of services and on the ground experience we can help unveil top talent, navigate regulatory and cultural intricacies, manage HR and payroll needs and also support the setting up and ongoing administration of businesses. Get in touch : https://lnkd.in/djc7ye47 #economicfreedom #globalexpansion #easeofdoingbusiness #investorfriendly #openmarket #heritagefoundation #goglobal

Technology is the key to unlocking these global opportunities, it provides a pathway for low-income earners and entrepreneurs in the Caribbean to participate in the global economy like never before. Islanders must seize this moment to leverage accessibility and foster economic empowerment across the region through the path of Entrepreneurship and Borderless Employment. 🌍💼 #CaribbeanOpportunity #SeaMoss #RemoteWork #GlobalEconomy

𝗢𝗽𝗲𝗻𝗻𝗲𝘀𝘀 𝗶𝗻 𝗔𝗰𝘁𝗶𝗼𝗻: 𝗛𝗼𝘄 𝗚𝗹𝗼𝗯𝗮𝗹 𝗧𝗮𝗹𝗲𝗻𝘁 𝗣𝗼𝘄𝗲𝗿𝘀 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗚𝗿𝗼𝘄𝘁𝗵—𝗔 𝗖𝗮𝘀𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗡𝗲𝘁𝗵𝗲𝗿𝗹𝗮𝗻𝗱𝘀 In today’s interconnected world, the nations that thrive are those that embrace global talent and leverage it for innovation and growth. The Netherlands is a prime example of how openness to international expertise can drive remarkable economic success. Ranked 5th on the Global Competitiveness Index, the Netherlands has created an environment where skilled migrants are not only welcomed but also empowered to contribute. In 2022, the country recorded 4.5% GDP growth, outperforming much of the Eurozone, while maintaining one of Europe’s lowest unemployment rates at 3.5%. This success is no accident. The Netherlands’ openness to English in business, its emphasis on diverse workforces, and its inclusive policies have attracted investments from global giants like Google, Microsoft, and Tesla, further fuelling innovation and job creation. What stands out about the Netherlands is that embracing global talent hasn’t diluted its cultural identity—it has strengthened it. The country has maintained its core values while reaping the benefits of diverse perspectives and skills. As we look at economic challenges across Europe, this model offers valuable lessons. Openness is not just a virtue; it’s a 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗻𝗲𝗰𝗲𝘀𝘀𝗶𝘁𝘆 in a world where the competition for talent is fierce. Could this be particularly relevant for certain European nations, adamant on preserving their national identities, yet doing so at the detriment of their own economic progress?

We are truly in the middle of a #globalwarfortalent, with initiatives ranging from the blue card in the #EU, #goldenvisas in the Middle East and #highpotentialvisas for the UK, every country today is trying to woo top-tier talent through liberalised immigration policies. However, I believe that there is an inordinate focus on the immigration regime as opposed to the factors underlying these choices. The case study of Switzerland below clearly highlights the importance of three factors: 1. #Education: The quality of primary and tertiary education is extremely important in determining talent flows as it is a huge factor in determining the quality of life and the sustainability of a long-term commitment. Unfortunately, there is no systematic focus on upgrading this fundamentally across geographies. 2. #RuleofLaw: Having fair and equitable access to the legal system which is predictable and efficient, is another very important determinant. A major concern for most professionals migrating is the safeguards in place for non-citizens in their adopted homes. A lot more can be done to define and implement policies around this aspect. 3. #Taxation and #Socialsecurity: This one may be the most tricky. Having a balance between low taxation and robust social security systems is absolutely crucial is promoting the ease of living and consequently, the attractiveness of a destination. Most countries tend to either opt for low/no taxation OR extensive social security nets. A comprehensive recalibration between these two elements might help boost competitiveness in attracting talent, on the lines of what countries like Singapore have managed to achieve. In summary, liberalised visa regimes are important, however, the winners in this war for talent are likely to be the ones who manage wider institutional reforms to promote their competitiveness.

As the world’s postpandemic economic order takes shape, the U.S. has emerged as an unexpected winner. Asian economies that fared relatively well during the pandemic—especially China, but also advanced economies such as Japan and Taiwan—have struggled to maintain steam. The end of the pandemic-era export boom and Washington’s aggressive stimulus are two reasons. But the U.S. has another ace up its sleeve: big postpandemic immigration inflows. Immigrants have helped cap inflationary pressures by expanding the workforce, despite falling birthrates, and will boost growth and public finances for years. Goldman Sachs estimated recently that above-trend immigration this year and last will boost potential growth by around 0.3 percentage point to 2.1% in 2024. Japan, meanwhile, struggled to expand at all in late 2023. Taiwan grew just 1.3% last year. The migrant population has always been a touchy political issue in the U.S., but Northeast Asia’s rich nations have much bigger problems with it. As their populations age more rapidly, the consequences of that attitude are becoming more obvious. Pension systems, which depend on young workers to fund benefits, will become difficult to maintain. Falling populations will make exporters such as Taiwan and South Korea even more dependent on the vagaries of the chip price cycle. Higher government debt issuance could crowd out private investment or impinge on other urgent priorities such as national defense. With populations already beginning to decline outright—and powerful political factions opposed to change—Asia could struggle to maintain much of its economic dynamism. A 2020 International Monetary Fund study found that, for advanced economies, a 1 percentage point rise in immigration relative to total employment tends to boost total output by almost 1% five years later. Strikingly, the model also found that productivity boosts delivered by higher immigration tended to raise the average income of native workers as well. One likely reason: Immigrants tend to bring different skill sets to the labor force, helping the overall economy grow more efficiently, and faster. Japan’s population has already fallen by nearly 2% since 2019, while Taiwan’s is down nearly 1%. The U.S. population, on the other hand, is about 1.4% higher, according to U.S. Bureau of Economic Analysis data. More than half of that represents new foreign-born residents. In February, the nonpartisan Congressional Budget Office estimated that the U.S. economy will be about 2% larger in 2034 than it would have been without the current immigration surge. The federal budget deficit, according to the CBO’s reckoning, will also be nearly 1 percentage point lower as a share of the economy.

New Century Planning Delivers Crucial Insights on the US 2024 Economic📊 Outlook for Latin American Expats New Century Planning, a leading advisory firm catering to expatriates in Latin America, recently shared vital perspectives on the US economic landscape for 2024. The presentation highlighted concerning economic trends that underscore the fragile state of the US economy, stemming from political decisions in recent years.... #USEconomic2024🤑 https://buff.ly/3UdiboI

#BrainDrain affects the overall #economy - explains Marta Prato, Bocconi Professor. Let's take a look at a concrete example: In the past 20 years, about 6% of European #inventors moved to the Americas, but only 0.5% of Americans moved to Europe. Indeed, the US has the largest brain gain in the world: about a third of all US inventions in recent years have come from foreign immigrants, who prove to be a valuable asset to its economy. But how can this phenomenon be reverted? Some European #governments introduce policies like #TaxIncentives to attract nationals who have migrated and other foreign professionals back to their home countries. But, while they are successful, critics argue that this policy encourages even more people to move abroad, since they anticipate that when they return they will enjoy a tax break. Should we stop #InternationalMobility? Of course we shouldn't. Seeking to retain talent by preventing international mobility would also impair the diffusion of new ideas and international cooperation that are crucial to both the activity of knowledge workers and fostering technological progress and economic growth. These positive and negative effects affect migration policy considerations. A more forward-thinking #policy of #cooperation between countries should recognize the value of human capital mobility and allow talents to move abroad and return easily, even repeatedly, in order to improve the diffusion of knowledge and the sharing of associated benefits between home and destination countries. To find out more about this topic, you can read the digital PDF available online here: https://lnkd.in/dHpFVDdV To read the full issue of the #BocconiMagazine click here: https://lnkd.in/dAMrPQPe

REPORT: The Economic Impact of Global Mobility in the UK Explore the multifaceted dynamics of talent, capital, and idea exchanges between nations, shaping the direction of the UK’s economic development. Gain insights into the interplay of factors influencing economic trajectories, including trends, consequences, and strategic approaches for maximizing benefits and overcoming challenges. Read the full report:  https://lnkd.in/gWrs2vBH #uk #relocation #globalmobility #immigration