According to the Decoding Mobile Talent 2024 report, London tops the list as the most attractive destination city for work.
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In an increasingly globalized world, living and working abroad is becoming less of a terrifying dream – and more feasible for many.
“Globally, one in four professionals is actively looking for jobs abroad,” according to the Decoding Global Talent Report 2024 from Boston Consulting Group (BCG) in collaboration with The Network and The Stepstone Group.
Despite recent widespread economic and geopolitical concerns, there are a growing number of people actively seeking jobs abroad, the report found.
The number of people who are actively mobile has increased from 21% in 2020 to 23% in 2023, according to the global survey, which was based on more than 150,000 respondents from 188 countries.
“Up to 800 million professionals could actively look for jobs abroad,” said the report published on April 24.
Three of the most common reasons among respondents for moving abroad are economic opportunity, career advancement and the potential for a better quality of life, according to the same report..
Additionally, the survey found that “an overwhelming 92% of global employer leaders say attracting and retaining talent is among their top three priorities.”
“Hiring foreign workers doesn’t just fill capacity gaps: companies with greater global diversity are more innovative and successful. They generate higher profits and are 75% more likely to be world-class innovators,” said a separate report from BCG from 2022 .
Top 10 destination cities for global talent
- London (9%)
- Amsterdam (8%)
- Dubai (7%)
- Abu Dhabi (7%)
- New York (6%)
- Berlin (5%)
- Singapore (5%)
- Barcelona (5%)
- Tokyo (5%)
- Sydney (4%)
London has retained its top position since 2014, according to the 2024 Decoding Global Talent report, the latest in a series that started a decade ago.
The survey found that 9% of respondents would be willing to move to London.
Key factors driving the city’s dominance include: English as a primary language, a strong global network where much of the city’s talent comes from other countries, abundant financial opportunities, a welcoming and multicultural brand, and access to both Europe and the US. according to the report.
Singapore was the top destination in Asia, ranking 7th. The island nation has seen the largest influx of talent from nearby locations such as Malaysia (30%), Thailand (22%), Indonesia (19%), the Philippines (14%) and Hong Kong (13%).
Of those willing to move to Singapore, 74% said the quality of employment opportunities in the country attracted them to the island.
The survey found that 57% of respondents were also satisfied with the quality of life in Singapore, as well as income, taxes and living expenses. More than half, or 55%, said safety, stability and security were also a consideration that led them to choose Singapore as their top destination for work.
This year, nine cities in the Asia-Pacific region made it into the top 30:
- Singapore (7th)
- Tokyo (9th)
- Sydney (10th)
- Melbourne (14th)
- Auckland (16th)
- Bangkok (17th)
- Beijing (25th)
- Kuala Lumpur (26th)
- Osaka (30th)
“The idea that home countries can benefit from talent departures may seem counterintuitive, because from one perspective they are experiencing ‘brain drain’,” the report said.
However, it cited a separate report from the Center for Global Development, which found that there was “brain gain” related to the fact that “departures can promote the spread of knowledge and technologies in countries of origin and those countries can help to establish a stronger connection with society as a whole’. global brain.”
In today’s world, there is much to be gained from hiring global talent, for both the employer and the employee.
“Other countries can be a great source of talent – employers and countries that tap such positive energy from the millions of workers with mobile ambitions will gain a major competitive advantage,” says the Decoding Global Talent Report 2024.
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