The strength of many developed countries is measured by the number of people working and paying taxes to fund public services. Employers in these countries have been able to find qualified workers to fit available positions due to immigrants migrating into their countries. Some of these countries lack a labour force because they live longer and have fewer children. This means that more people are on the retirement list and fewer students are in schools. The inflow of immigrant into these countries help foot the bills of the system.
The recent Canadian immigration records show that between 1980 to 2015, the income tax paid by working Canadians for health care and other supports for retired Canadians dropped from a ratio of 6 workers for every retiree to 4 workers for every retiree in 2015. It has also been estimated that this will drop further to a ratio of 3 workers to every retiree by the year 2030. Hence, without immigrants to help support the need of the aging Canadian population, younger Canadian workers will pay more taxes. This explains why the population of the immigrant admitted are young, that is, below age 45years.
Immigrants are also admitted to meeting labour market needs. Research revealed that some employers in these countries have challenges finding citizens to fill some positions. Therefore, immigrants that are professionals in these fields are encouraged to migrate through express entry programs to fast-track the immigration processes. Professionals such as Engineers, Programmers, Doctors, Financial Auditors, and Accountants are in high demand. These professions are believed to have a positive impact on their economy.
We also support the education system of these countries through international studies. Research shows that in the year 2021, international students worth £28.8 billion to the United Kingdom economy. The data revealed that Nigeria is the third non-European Union country with the most student in the United Kingdom with over 21,000 students currently enrolled.
Interestingly, research has shown that Nigeria is one of the main sources of Canada and the United Kingdom’s immigrant population. About 51,000 and 170,000 Nigerian workforces have migrated to Canada and United Kingdom respectively to mention a few. It feels like all close family and friends now live abroad. Reality sets in when you need a professional and you find it hard to get one. Either the premium on those left behind is high or you cannot find the best fit.
How do we solve this menace as the reality of lack of good hands is more than ever? Fresh graduates see the migration process as the only ticket to a bright future. What will be left of the nation as more of her workforce prepare to leave the country? Do we all have to fly abroad to get proper medical care or begin to consult our native doctors for those that can not afford $1,000 for a round trip flight ticket?
It is relieving to have a full class of executive MBA students studying at Lagos Business School at the moment; I hope we are not on the list of immigrants migrating to America by the year 2024.