The Acceleration of Mass Global Migration
Updated: Jul 6, 2020
There was already a growing trend of people moving out of expensive urban areas around the world to less expensive suburban areas, but with people being forced to work from home and businesses adjusting to the new normal these trends have accelerated.
Business have realized that their it is more productive in most cases for their employees to work from home and individuals realize they don’t need to be living commuting distances any more from their office, because their new office is there home.
Let’s explore these disruptive and exiting trends together as we look into the changes happening today and
extrapolating where they could be going tomorrow
In a recent article from Zippia, Here are the states Americans actually want to live in 2020.
The top ten Fastest Shrinking States
Cost of real estate, employment opportunities, climate, environment, taxation & overall lifestyle to name a few
The 10 States With The Biggest Population Increases
In a recent New York Times article on April 19th titled: "America’s Biggest Cities Were Already Losing Their Allure. What Happens Next? The urge among some resident to leave because of the virus may be temporary. But it follows a deeper, more powerful demographic trend."
This shows people already wanted out of dense urban areas but now with the health concerns from the virus, this rate has accelerated. In addition to this, the global shutdown due to the virus, created work environments where people were forced to work remotely due to shutdowns. This has also had major effects of change in the way businesses are operating as well. In a recent Forbes article on May 18th, Twitter and Square both accounted Work Home Forever Options. There were also announcements from Facebook and others as well.
More and more businesses will be cutting their second largest expense, that being real estate and office spaces, opting for their employees more and more to work remotely.
Employees will no longer need to live within driving distance from their employer. This means, employers will now be able to hire working from a global pool instead of a local pool of people. This greatly expands their talent pool options and brings pressure to the salaries of their current work force. To put it simply a company in the San Francisco Bay Area doesn’t need to hire a local Engineer with a six figure salary but can now look to working in Asia, Africa, South America and elsewhere where the talent lies but the salaries are much lower.
So the companies accomplish a reduction in their bottom line labor while at the same time reducing their real-estate and office foot print. It gets even more disruptive though, now companies no longer need their offices near the talent either, they can move to more tax friendly havens as well. This global migration has already started before the effects of the virus took hold but now they will just get amplified and at an accelerated pace.
So what do we do? How to change our personal lives and business to better prepare for this disruption. Learn the new tools of the remote office environment, Zoom, Google Hangouts, Slack, SharePoint, chat, messaging, collaborative and files sharing software tools. Learn how to use remote and e-commerce methods of digital payments. Look into areas and strategies that can benefit you, your family financially and from an overall happiness standpoint. Look for an places to migrate to in your country or around the world with lower cost real estate, lower taxation, lower pollution levels, a better climate, freedoms, lifestyle choices or anything that you deem important to you.
So the takeaway here is that this disruption has already started and no knows for sure what the future will bring but be educated and be prepared. We live in exiting and disruptive times.