Emigration: Economic Implications

International migration affects the labour markets of both the host and the home countries. Generally, the entrepreneurial capabilities and skill levels of the migrants are high and hence, their movement may be an advantage to the host country and a loss to the home country. But the remittances of the migrants aggregate to a large volume. It has significant impact on the economy and external payment positions of several home countries. Hence, the home countries stand benefited by such remittances. However, brain drain can have dire consequences for sustainable development in developing countries. A significant number of migrant workers also face undue hardships and abuse in the form of low wages, poor working conditions, virtual absence of social protection, discrimination and xenophobia as well as social exclusion. The ILO Multilateral Framework on Labour Migration has compiled a set of principles, guidelines and best practices to guide countries in the formulation and implementation of labour migration policies. States have the sovereign right to determine their own migration policies. Labour laws framed by countries governing the movement of people take into account these divergent economic and social issues. The impact of migration and the experiences can naturally vary from country to country. The book gives a complete overview of the international migration and its impact on the labour market and entrepreneurship and also a study of these issues in several countries.