BUSINESS MIGRATION IN THE 21st CENTURY

04, July 2020

The trend in business migration globally is a phenomenon that gained significance since the third industrial revolution. 


A UN report published in September 2019 says there are about 271 million migrants worldwide, of which approximately 164 million were labour migrants, this figure is more than half the global migration number.


 A study conducted by the McKenzie global institute, labour migrants contribute 9.4% of the global economy. This means that migrants contribute three times more to the global economy on a proportional basis. 


Many African countries are developing countries yet few African countries trade with each other. “Out of the huge potential for trade between African states only a paltry 15 to 19 % is the reality,” says the senior manager for Fragomen Johannesburg, Mr. Johannes Tiba, he further states that “there is a real opportunity for trade between African states to rise to between 40 to 50% if only the continent’s leadership grab the opportunities available today.”


Unfortunately, many African countries are setting up road blocks to growing labour migration, mostly through protectionism, which arises either through political and social ideologies, or through the need to cut down the numbers of local un-employment. This is an indicator that a lot of work has to be done to realise at least 40% intra-Africa trade in the next few years.