MemberJune 11, 2022 at 9:55 AM150 Network PointsActivity Points 1220
There is an increase in the migration of working professionals from their poor countries to rich countries. This essay discusses the problems such as the shortage of skilled professionals, along with that it has an adverse impact on the country’s economy. These problems can be averted by taking proper measures to generate employment opportunities and by enacting strict migration policies.
Firstly, the migration of skilled workforce from poor countries has been affecting the nation in several factors, such as a reduction in skilled workers and a negative impact on the country’s revenue. Companies in economically weaker nations are shutting down because they couldn’t find skilled labour which matches their requirements due to the migration of talents. As a result, the closing down of factories has a cascading effect on the country’s economy. The government couldn’t manage their expenditures and investment in various sectors for development due to fewer taxes paid by firms.
However, the government can take proactive measures to avert a financial crisis by generating employment opportunities. Governments can simplify the process of setting up new companies and also support them in ease of doing business, which in turn will result in the generation of more employment opportunities. In addition, the government can enact minimum wages and strict migration policies by asking them to serve the nation or to work in local companies for at least a minimum of years after pursuing their education. The minimum wage policy will provide a morale boost for workers to work in their native countries since it will entice them to work here if they are not finding any big deviation in the pay scale between their countries and rich nations.
In conclusion, the Migration of skilled labour to richer nations due to lucrative wages and promising careers results in brain drain and shortage of skilled people. Consequently, it wreaks havoc country’s economy. It can be alleviated by providing incentives and subsidies in addition to streamlining the process of ease of doing business, which results in generating more job opportunities.