PH Ranks Ninth in Global Migration
The Philippines ranks ninth worldwide in terms of global migrants from the country, a report by McKinsey Global Institute (MGI) showed.
The newly launched MGI reported, about half or 119.5 of the world’s 247 million migrants have moved from developing to developed countries while a third or 79.6 million moved from a developing country to another, reported Business World.
The Philippines accounts for an estimated 5 million or about 2.025 percent of the 247 million total migrants as of 2015.
The top ten countries of origin are India, Mexico, Russia, China, Bangladesh, Syria, Ukraine, Pakistan, the Philippines, and Afghanistan.
“At the country level, the top ten nations have accounted for 60 percent of the growth in total migrants in developed countries since 2000,” the business and economics research arm of McKinsey & Company reportedly said.
The top 10 migrant destinations were the United States, Germany, Russia, Saudi Arabia, United Kingdom, United Arab Emirates, Canada, France, Australia and Spain with the US taking the bulk of immigrants at 19 percent or 47 million people, said the news portal.
A survey conducted by the Philippine Statistics Authority reportedly showed that one in every four overseas Filipino workers (OFWs) or 24.7 percent of the 2.4 million OFWs in April to September 2015 worked in Saudi Arabia, the top destination of OFWs.
Other popular Asian destinations of OFWs were the United Arab Emirates (15.5 percent), Hong Kong (5.9 percent), Kuwait (5.8 percent), Singapore (5.7 percent) and Qatar (5.5 percent).
“MGI estimates that in 2015 the world’s 247 million cross-border migrants made an absolute contribution to global output of roughly $6.7 trillion. They contributed 9.4 percent of global GDP (gross domestic product), despite making up just 3.4 percent of the world’s population,” the report said.
Only 25 countries capture 90 percent of the economic benefit with the US seeing $2 trillion injected into its GDP in 2015, followed by Germany ($550 billion), the United Kingdom ($390 billion), Australia (330 billion) and Canada ($320 billion).
“Migrants originating from developing nations accounted for some $4.1 trillion (or roughly 60 percent) of the overall global impact of migration, and those from developed origins contributed some $2.2 trillion. The top five pairs of origin and destination countries, as measured by economic impact, together account for some $800 billion of GDP impact, or 12 percent of total global output. The United States is the destination country in three of these corridors, realizing the largest gains from workers who arrive from Mexico, India, and the Philippines,” the report said.
(Source: FilipinoTimes.ae)