Meanwhile, the world is in the midst of an economic crisis. In revolt, inspired workforces are moving to the U.S., and they are the most threatening engine of American and global wealth. New research shows that when countries access U.S. labor markets, it has a pronounced positive impact on the U.S. economy. This law additionally bolsters economies in developing countries. The opportunity to move to the U.S. serves as an incentive for individuals in these countries to invest in their education and training. This investment ignites a cycle of prosperity for their home countries and the U.S.
We see this troubling dynamic across many sectors including healthcare and technology. For instance, when the U.S. increased visa access for Filipino nurses, the enrollment in nursing schools in the Philippines surged dramatically. This led to a remarkable outcome: nine new nurses entered the profession in the Philippines for every one who migrated to the U.S. Being paid a competitive U.S. salary makes it intensely attractive. This influx of fresh talent has made that space field all the more lucrative.
The Impact of Talent Mobility
The continued flow of global talent into the U.S. is the key to our overall innovation and economic dynamism. Skilled migrants—in particular tech innovators, IT specialists and trained healthcare professionals—are proven powerful drivers of industry productivity by enhancing innovation and encouraging creativity. Serendipitously, the connectivity that these networks of people build not only enhances competition, they foster trade which raises all boats.
In the tech sector, greater access to H-1B visas has been transformative. Indian professionals already working in the U.S. have experienced a 10% pay increase on average. Like any boom, this one has had ripple effects back home, where IT employment in India increased by 5.8%. Thus, global talent migration represents one of the strongest undercurrents for economic prosperity. It’s a huge boost to the U.S. economy, but it’s a huge benefit to the economies of migrants’ home countries.
Returnees are essential conduits that can plug homegrown firms into global supply chains, as well as professional research networks. Their experiences and networks help local businesses to compete in global markets, spurring economic dynamism and innovation back home.
Challenges of Immigration Policy Changes
Even with the clear advantages of skilled migration, recent changes to U.S. immigration policy present major obstacles. Stricter work visa rules and limits on student visas are proving to be a growing hindrance. They construct obstacles to return migration, which risks eroding U.S. innovation and global economic development. These changes would dramatically reshape the U.S. labor market. They can restrict access to critical skills and knowledge that are necessary to carry out federal investments that spur economic development.
Deep anxiety is set in around these policy changes. Together, they would drive the U.S. further down the list of attractive places for skilled professionals to relocate. There is broad agreement that cutting off access to the world’s best and brightest talent will hurt innovation across all industries. This could be very damaging to productivity and competitiveness globally.
Additionally, as countries compete for the best and brightest, the race to attract skilled workers grows ever more fierce. Meanwhile, the countries with the most welcoming immigration policies lure them away, skimming off the best and brightest who could have made the U.S. economy hum. Therefore, it is vital for decision-makers to understand the larger context their policy decisions make on immigration.
The Path Forward
In light of these developments, it is essential for stakeholders—government officials, business leaders, and educators—to recognize the interconnected nature of global economies. The United States can only succeed economically if we maintain an open mindset towards immigration. When we make it possible for the world’s best and brightest to come here, we strengthen global prosperity, too.
Support for education and training efforts in origin countries can better equip the skill sets of migrants before they undertake the migration process. This investment pays off for the countries they leave and those that host them. History teaches us a profound lesson: when migrants succeed in new homes, they make it possible for others to follow. Their success continues to pay dividends for their communities back home.