El Mostrador recently published a story about young Spaniards fleeing the crisis in Spain and emigrating to Chile to search for work. The USA remains not only the richest English country, but also the richest Spanish country, the first choice for emigrants from Spain; but the USA has abandoned its historic desire to drain brains from the rest of the world. Even if the USA were happily accepting immigrants, job prospects are worse than Canada, Australia, Singapore, and Chile. Many migrants from India and China are returning after attending college in the USA because they perceive better opportunities at home.
I reckon that Chile is the best country to migrate to, but it confronts strong competition, according to the HSBC Bank Expat Survey:
Canada, Australia and Singapore are rated highly in terms of Expat Experience (2nd, 6th, 11th) and consequently are likely to be chosen for a better quality of life (70%, 71%, 66%). Broadening life experiences was the main reason that expats currently living in these countries chose to become an expat (Canada 61%, Australia 57% and Singapore 64%) but interestingly these destinations also score highly under the work environment category with 68% of expats in Canada and 59% of expats in Australia saying that their working conditions had improved since relocating. Expats in Canada and Australia are also more likely than average (48%) to say that since relocating their work/life balance had improved (Canada 60%, Australia 55%).
These destinations are more likely to encourage long term expat settlement with 45% of working expats in Canada and 39% in Australia stating that they are planning to remain in their current country for the foreseeable future, or return in future, compared to the global average of 23%…. Expats who think Singapore is the ideal expat destination are likely to choose it both because of a better quality of life (66%) and career prospects (65%). Singapore, it seems, can give expats the best of both worlds.
Singapore enticed venture capitalist Arnon Kohavi, who was unable to persuade Chilean investors that Start-Up Chile participants are worthy investments. The climate in Chile is superior to cold Canada and hot humid Singapore, so Australia is the only viable competitor for the large number of potential expats seeking a good climate and job prospects. Australia rejects as many potential expats as the USA and imposes many similar tyrannical government policies, allowing Chile fruitful opportunities to fill the market niche.
The Start-Up Chile program pays $40,000 to techies in Silicon Valley and other places to visit Chile for 6 months, but the government could more cheaply entice highly educated rich country migrants by marketing the country in Spain and Portugal. Better still, Chile could leave the market alone, waiting for the rich countries to destroy themselves with relentless deficit spending.