Great Britain remains one of the top country destinations for migrants eyeing better opportunities in life.
According to the Annual Global Immigration Trends 2023 by Ace Luxury Immigration Solution, the UK is the third-best country for individuals seeking immigration.
Ace Luxury Immigration Solutions, a leading immigration and citizenship-by-investment firm, conducted a comprehensive survey with over 25,000 respondents worldwide.
The survey aims to get insight into the evolving landscape of global migration, as well as the diversity of individuals and their immigration experiences.
The respondents included existing and former customers in the Middle East, South Asia, and Canada, as well as industry stakeholders.
The report revealed the most favorite destinations, the origin of migrants, and where the rich migrate.
2023 global migration trends
The United States (US) topped the survey, with Canada and the United Kingdom (UK) in second and third place, respectively.
The US remains the top choice for prospective immigrants seeking a new passport, whether for business, education, or family reasons.
This is despite layoffs, limited visas, and other immigration barriers that have made it difficult for foreign workers. Employers also had to pay higher fees.
Canada ranks second on the global migration report, with a high score for business migration due to its Startup Visa Program.
The program offers a fast track to permanent residency for entrepreneurs with innovative business ideas.
The UK is the third most preferred country for immigration despite the higher cost of living.
Like Canada, the UK attracts professionals from various fields such as finance, healthcare, education, and technology.
The report identified India as leading the trend for migration in 2023.
Mexico, Russia, China, Syria, Bangladesh, Pakistan, and Ukraine are also significant contributors to migration.
Where the rich migrate
The 2023 Annual Global Immigration Trends also revealed the countries where the wealthy or high-net-worth individuals migrate.
They preferred the US, Canada, Switzerland, Portugal, Greece, the United Arab Emirates (UAE), Australia, New Zealand, and Singapore as top countries for investing and establishing their second homes.
However, Ace Luxury highlighted the opportunities for high-net-worth individuals in the UAE, the UK, and Canada, representing the Middle East, Europe, and North America, respectively.
“The massive potential of business migration between the UAE, UK, and Canada is a reflection of the globalized nature of today’s economy. The mammoth opportunity opens unique advantages for entrepreneurs, investors, and professionals seeking migration in North America, Europe, and the Middle East regions,” said Shahrukh Zohaib, CEO and Founding Partner of Ace Luxury Immigration Solutions,
The UAE, particularly Dubai, is a global business hub with world-class infrastructure, a tax-free environment, and long-term residency visas and citizenship programs.
On the other hand, the UK is known for innovation, research, and development. The country attracts talent worldwide with its entrepreneurial culture, world-class universities, and rich history.
Its Entrepreneur Visa and Investor Visa schemes open further doors for business migration, especially in finance, healthcare, education, and technology.
Besides Canada’s Startup visa, its diverse workforce, welcoming immigration policies, and quality of life contribute to its appeal as a destination for families seeking a better future.
2024 global migration forecast
In 2024, several countries are implementing and planning to introduce more stringent immigration policies.
The UK announced in December 2023 several significant changes to immigration policies to curb net migration and put less strain on its public services.
The British government will almost double the income threshold for skilled workers and prohibit them from bringing dependents into the country.
Family visa applicants will also be subject to a higher minimum income requirement, which will take effect in stages.
Its graduate visa is under review, and the shortage occupation list will be re-assessed to ensure that both visa routes serve the country well.
Australia also recently announced that it would bring record-high levels of migration under control, focusing on retaining and attracting highly skilled immigrants.
The Land Down Under also lifted the minimum wage for sponsored foreign skilled workers to $70,000 last July 2023.
International students in Australia will also need to meet more challenging English-language requirements. Second-time student visa applicants will undergo a strict review.
Starting in 2024, Canada almost doubled the cost-of-living financial requirement for study visa applications, now the same as 75 percent of Canada’s low-income limit.
The amount will be adjusted annually based on Canada’s minimum essential income to prevent individuals from spending too much on basic needs.
Canada’s Express Entry also introduced six new categories for selection draws. The draw focuses more on specific candidate attributes and work experience than a high comprehensive ranking system score.
The US temporary work visa will also undergo significant changes in 2024, aiming for modernization and a fairer system.
The selection process will concentrate on unique beneficiaries to offer fairer chances to a diverse pool of applicants.