Indian workers earn 120% more abroad: World Bank report

Digital Desk: There is some good news if you are planning to move abroad for work. 

According to the World Bank's most recent World Development Report, moving overseas is more financially advantageous for Indians.

The report states that while internal migration within India will only increase personal incomes by roughly 40%, Indian workers will witness a 120% increase in their salaries outside India. 

"Migration leads to large wage increases for most people whose skills and attributes are a strong match with the needs of the destination society. These gains often exceed what could be achieved in the country of origin, even from internal migration to relatively better-off locations," says the report.

Low-skilled employees from developing and developing nations like India have it even better when they relocate abroad. 

The pay of a low-skilled Indian worker in the US is projected to increase by a staggering 500%. Low-skilled employees can earn 300 percent more in the United Arab Emirates than in India, making it their second favourite destination.  

According to the research, "the gains are so significant that, even at current rates of economic growth, it would take decades for the typical low-skilled worker in some countries of origin to earn the income they achieve by migrating to a high-income country."

Low-skilled employment is defined as "simple and routine tasks that require the use of hand-held tools and frequently some physical effort," according to the International Labour Organisation. 

Tech brain drain a boon in disguise? 

The media has frequently used the term "brain drain" to refer to intelligent Indians leaving for the developed world. The World Bank research claims that the "brain drain" may have contributed to India's information technology revolution, which may or may not have some basis in reality.

Along with succeeding in Silicon Valley, a substantial number of Indian tech professionals have also assimilated into the world's largest diaspora. Some of the best instances of immigrants from India who succeeded in the US include Sundar Pichai, Satya Nadella, and Arvind Krishna.  

The research claims that by sharing expertise and encouraging innovation, these well-known figures have assisted in the growth of Indian industries.

"Large IT-related businesses in India were started by Indian immigrants in Silicon Valley, California. Around 90% of the businesses in Bangalore's software technology parks were founded by returning residents in 2006," the survey finds.

An important source of remittances is economic mobility. 

The country of origin can often benefit economically from migration to industrialised nations. 

According to the survey, "remittances are a reliable source of income for migrants' families, supporting investments in children's education, healthcare, housing, and entrepreneurial endeavours." 

With remittances reaching $100 billion in 2022, India will be the largest recipient of remittances worldwide.

Migrants who reside in the Gulf provide the majority of the remittances to India. The research claims that migrants from India who have poor levels of education and who work in Gulf nations typically send home close to 70% of their income. The Gulf Cooperation Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates are home to approximately 50% of India's migrant population, according to the Ministry of external affairs in India.