How does this affect the economy of Argentina?

According to a World Bank study, more than 30 million Latin Americans currently live in countries other than their country of origin.

One of the main concerns of Latin American countries is the continuing shortage of talent. There are better opportunities for professional and personal growth towards more developed countries.

There is no doubt that the pandemic has given rise to various problems which have added to the crisis that many countries are going through, which is why the issue of brain drain is gaining importance. Large numbers of unemployed people, many of whom are dissatisfied with their income and quality of life, are turning their attention to Europe and North America.

The UK recently unveiled its ‘2021 Social Mobility Scale’, which provides residents an idea of ​​the impact of the pandemic, who has suffered and what government and other bodies should do.

According to the survey, more than half (56%) believe the pandemic has exacerbated social inequalities; 55% of adults say it had a greater impact on mental health; Four out of five adults (79%) believe there is a significant difference between different social classes; Only one in four people (25%) of black and ethnic minorities believe they live in a just society.

Social mobility is likely one of the main reasons for moving to another country

In turn, more and more people believe that employers should take action to improve social mobility. This assumption is likely to be repeated in other regions of the planet, But the survey shows that it is a very well known problem in Latin America.

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The main reason for local talent choosing other countries to emigrate is the possibility of social mobility or opportunities for people to change status and improve social and economic structure.

This concept essentially measures equality of opportunity in society, that is, it attempts to estimate how many generations it will take for a low-income family to reach the average income.

According to the “Social Mobility Report for 2020” prepared by the World Economic Forum, The country with the best indicators is Denmark, followed by Norway and Finland. America is at number 27 and Spain is at number 28.

Latin America and the Caribbean set an all-time high, with more than 41 million unemployed as a result of the pandemic, according to ILO data.

In Latin America, the first country on the list is Uruguay is ranked 35th, followed by Costa Rica (44), Chile (51), Ecuador (57), Mexico (58), Panama (63), Colombia (65) and Peru (66).

This ability for social mobility was developed taking into account several indicators such as income and education level; Health care, access to technology, employment opportunities and fair wages.

Brain drain, the private sector finance and development arm of the World Bank (WB), is growing in global numbers, according to David McKenzie, chief economist at the Development Research Group. The presented report shows that the number of immigrants from our region to the north increased from 14 million in 1960 to 60 million in 2000.

Brain drain and its reality in Latin America

According to a study by the World Bank, More than 30 million Latin Americans live outside their country of origin. It represents 5.2% of the population and over 70% of skilled professionals in the Caribbean migrate in search of better opportunities.

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Argentina tops ranking of immigrants in Latin America

List of countries in the region with the most immigrants It is led by Argentina, Venezuela, Mexico, Brazil, Costa Rica, the Dominican Republic, Ecuador, Chile, Paraguay and Bolivia. Most of these immigrant talents, on average 90%, seek the high-income Organization for Economic Co-operation and Development (OECD) countries as their final destination.

It is important to remember that the countries that make up the OECD are: Germany, Australia, Austria, Belgium, Canada, Chile, Colombia, Costa Rica, Republic of South Korea, Czech Republic, Denmark, Slovak Republic, Slovenia, Spain, State . Countries, Estonia, Finland, France, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Lithuania, Luxembourg, Latvia, Mexico, Norway, New Zealand, Netherlands, Poland, Portugal, United Kingdom, Sweden, Switzerland and Turkey. One of the main reasons for increasing brain drain in this era of pandemic is the level of unemployment which has increased.

According to the International Labor Organization (ILO), Latin America and the Caribbean Record all-time high of over 41 million unemployed as a result of the pandemic. According to an article in Estrategiaynegocios.net, another important piece of information reported by the International Labor Organization is that Chile, Brazil, Mexico and Colombia are the most affected countries in the region.

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About the Author: Forrest Morton

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