South Asia Investor Review

The European Union (EU) and India have recently agreed to a trade deal which includes an MOU to allow “an uncapped mobility for Indian students”, according to officials, allowing Indians greater ease to travel, study and work across EU states. India's largest and most valuable export to the world is its people who last year sent $135 billion in remittances to their home country. Going by the numbers, the Indian economy is a tiny fraction of the European Union economy. Indians make up 17.8% of the world population but contribute only 3.3% of the global  GDP . The European Union, on the other hand, has just 5.6% of the global population and produces 17.8% of the world's economic output.  Indian Economy Dwarfed by EU. Source: DW If finally signed and implemented, this "uncapped mobility" for Indians will probably become the most significant part of the deal.  “More than 800,000 Indians are living and actively contributing to the countries of the European Union", acc...

Among 10 countries with the estimated net outflow of migrants exceeding 1 million over the period from 2010 through 2021, Pakistan saw 16.5 million migrants move overseas, the highest in the world, according to a report titled "World Population Prospects 2022" released by the United Nations Department of Economic and Social Affairs ( UN DESA ).  Pakistani Workers' Overseas Migration Data (2010-2021). Source: Bureau of Emigration In many of these countries with more than one million people leaving, the outflows were due to temporary labor movements, such as for Pakistan (net outflow of 16.5 million), India (3.5 million), Bangladesh, (2.9 million), Nepal (1.6 million) and Sri Lanka (1.0 million).  The report also said that India's population will surpass China's in 2023. Over half of the global population increase up to 2050 will be in just 8 countries: Democratic Republic of Congo, Egypt, Ethiopia, India, Nigeria, Pakistan, the Philippines & Tanzania. Populatio...

Rich Pakistanis ranked third in the world for making inquiries to  migrate abroad  last year, according to a report by  Henley and Partners . High net worth individuals (HNWIs) from India topped the list of those seeking to migrate, followed by Americans and Pakistanis. Pakistan is among nations that experienced "significant wealth outflows" in 2019, according to  Afrasia Bank .  There has been a 25% increase in the number of HNWIs enquiring about citizenship-by-investment as opposed to residence-by-investment programs since the coronavirus was first reported nearly a year ago, indicating that wealthy international investors are considering a more permanent change.     Pakistan Among Countries With Significant Wealth Outflow. Source: Afrasia Bank In 2019, the UAE initiated a new system for investment-based long-term residence visa called Iqama. It enables foreigners to live, work and study in the UAE without the need of a national sponsor and with...

A recent New York Times piece titled " Poor and Desperate, Pakistani Hindus Accept Islam to Get By " talks of "Pakistan’s dwindling Hindu minority". An earlier New York Times story in December 2019 mentioned "the pressure for (Pakistani) Hindus to weigh moving to India".  The paper also reported that "the Indian government granted 12,732 long-term visas, compared with 4,712 in 2017, and 2,298 in 2016". These stories raise two questions: 1. Is  Hindu population in Pakistan  declining? 2. Are Hindus moving to India better off than they were in Pakistan? Let me try to answer both of these questions. Hindu Population in West Pakistan Source: Census Data Hindu Population in Pakistan: There are  8.4 million Hindus in Pakistan  as of 2018, according to Pakistan Hindu Council. Hindus, including low-caste Hindus, make up 4% of Pakistan's population, a much higher percentage than 1.85% back in 1998. Hinduism is the Fastest Growing Rel...

Nearly 600,000 Pakistanis have gone overseas for work in the first 11 months of this year, according to figures recently released by Pakistan  Bureau of Emigration and Overseas Employment . This phenomenon has helped reduce unemployment in a country where about  2 million young people  are entering the job market each year. It has also helped  remittances soar  nearly 21X since the year 2000. Emigrants From Pakistan 1990-2019. Source: Pakistan Bureau of Emigration Migration Overseas: Over 11 million Pakistanis have left home for employment in Europe, America, Middle East and elsewhere since 1971, according to Pakistan Bureau of Emigration. The pace has particularly picked up over the last 10 years with over half a million Pakistanis migrating abroad each year.  This phenomenon has helped reduce unemployment in a country where about 2 million young people are entering the job market each year. Emigrants From Pakistan 1971-2019. Source: Pakista...

Migration data for 2016 released by Organization for Economic Cooperation and Development, the club of rich industrialized nations of Europe, North America and East Asia, shows that a growing number of Pakistanis are migrating to its non-English Speaking member countries. Traditionally, most Pakistanis migrating to rich industrialized nations have preferred to go to English-Speaking nations. The biggest factor driving such migrations appears to be the growing labor shortages caused by aging populations and declining birth rates in OECD member nations. Migration to Non-English Speaking OECD Nations: Among the biggest non-English Speaking OECD destinations in 2016 for Pakistani migrants are Italy (14,735)  , Germany (12,215), Spain (6,461), South Korea (2,724), Japan (1,486), France (1,350) and Sweden (1.211).  Pakistani Migration to Non-English Speaking OECD Nations in 2016. Source: OECD Among English Speaking OECD nations, the top destination for Pakistani migrants continues t...