Immigration brings strong opportunities for growth and sustainability of the economy if it’s managed productively. Based on the comprehensive data on the internet the research has shown that the migration to the developed countries can be of greater advantage to both the immigrants and the country in which the immigrants migrate. There is an immigrant investor program known as EB-5 that was introduced in 1990 for the betterment of the US economy. This visa can be bought for approximately 575,000 USD but the amount can also vary with the expenses. EB-5 Investor Immigrant Program is a win-win situation for the US economy and the foreign investors’ both.
You can check out more information about the immigrant investor program on EB5Deals.com
With the help of EB-5 deals the people will be allowed to migrate along with their families and they can get a two-year conditional green card with all the rights and benefits a common citizen has. Some of the benefits of immigration are discussed below:
The Economic Growth
The simple rule of demand and supply implies that if the labor supply is high in an increasingly crowded economy the wages of the workers will be reduced, other being fixed. This is the case of “partial equilibrium” whereas, it can be wrong in “general equilibrium” that is when the labor increases the wages decreases and the income decreases. The partial equilibrium is a very simple logic which only works if the other things are kept constant.
Investments
With a large number of workers the working capacity of the laborer also increases. It has been noted that since 1990 when the immigration was at its peak the productive capacity of a worker was higher than before. When there is a large number of workers available in the markets the firm invests more and because of this, the workers did not crowd out in the firms that already existed.
Job Upgrades
Comparing the natives and the immigrants, there can be job difference depending on their education. As the immigrants have less education as compared to the natives, they get their positions in the job accordingly. An immigrant could become laborer, driver, housekeeper, and painter; on the other hand, the native could become a cook, supervisor, front desk operator, coordinator which requires good speaking skills and interaction.
Mobility of Immigrants
Immigrant workers, both, who are newcomers as well as those who are already working for the betterment of the economy, are more willing than the natives to move around and find a job. Immigrants help in stabilizing the country and help its economy to sustain. The willingness of the immigrants to move around for a job helps in lowering the rate of wages of the workers in unknown areas of the country. This mobility helps in strengthening the efficiency rate in the labor markets.
Household Production Services
In many European countries and in the United States, there is a large presence of the immigrants providing the home services. The home services include housekeeping, gardening, cooking, cleaning as well as taking care of the children. The foreigners have made the house services affordable for the natives. Due to the economic wage rate of the housekeepers the natives can afford a worker who can be of great advantage to the lady of the house, who can do any job without worrying about the home and her family.
There are long- term benefits to the country in which the foreigners migrate if the immigrants are looked upon properly and given the jobs accordingly. The economic growth rate can increase if the number of workers increases and if the workers increase the country would also grow in financial terms as the wage rate would drop increasing the productivity of the workers.
Image Credits: immigration from 9dream studio/Shutterstock
