Why immigrants choose to leave their home country to work?

Fintech

Why immigrants choose to leave their home country to work?

By: Sam

Background

In 2005, a report from the United Nations states that there were nearly 191 million international immigrants worldwide, accounting for almost 3% of the world population. As compared to 1990, the world has witnessed a great increase in the number of immigrants by about 26 million. It is further predicted that immigration rates will continue to increase over time. A survey done in 2012 by Gallup discovers nearly 640 million adults would want to immigrate if they had the chance to.

Factors that causes workers to leave their home country

  • ‘Push’ Factors are the reasons why people leave a place

  • ‘Pull’ Factors are the reasons why people are attracted to new places

Costs involved when immigrating

It is branched into two main concerns:

  1. Financial costs involved 

Migrant workers typically pay agent or recruitment fees that range from S$3,000 up to S$15,000 to get a job in Singapore. For some, this sum may be figure too large and may end up liquidating their own assets, potentially at substantial losses just so they can raise funds to move abroad.

  1. Ability to assimilate into host country

Entering a new country means that workers have to adapt to the sudden changes in environment. And it is not just that, immigrants have to set aside with cultural differences, get used to different cuisines, possibly speak a different language and most importantly adapt to working in a completely new environment

Regardless….

It is no doubt that immigrations provide immigrants with more growth opportunities and fresh start on life. Here at Instamo, we understand how hard it can be to make a living abroad. We want to make sure money transfers are made easier and smoother for everyone. This is why it is our top priority to help foreign workers ensure that as much of hard - earned money made is able to reach their families back home. At Instamo, we are proud to be one of the fastest, most convenient and economical direct payment application for overseas remittance. 

About Instamo

Instamo operates as a cross border payment marketplace that connects banks, businesses, financial institutions, non-banked entities, money transfer operators and individuals together to provide a faster, more affordable and transparent cross-border settlement solution for businesses and individuals around the world. Instamo strictly follows complex regulations and compliance standards in different jurisdiction. Our open technology infrastructure can be used across multiple industries with innovative and open banking solutions including remittance, different types of payment collections and payout for merchants, partners, payroll, real estate financing, cross border investment. As a technology core, any businesses can run on top of Instamo for an open money interoperable system to leverage on fast growing networks of real time cross border payment

Instamo is proud to be one of the fastest, most convenient and economical direct payment application for overseas remittance. 

Free for download at the Google Play Store and App Store: https://instamo.io/invite?code=BD6D56

Footer background

Address:

- 2F, 31 Han Thuyen St, Dist 1, HCMC, Vietnam

- 7F, 21 Ly Thuong Kiet St, Ha Noi, Vietnam

- 10 North Bridge Road, #07-05, Singapore 179094

- 222 W Merchandise Mart Plaza, 12th Floor, Chicago, IL60654