Diaspora black hole

Over USD 400 billion was sucked out of economies worldwide last year by ten countries alone, with India, China, and the Philippines topping the list in our region. It's a trend that has bounced back with a vengeance since the great pandemic 'reset'. For some countries, sending citizens abroad holds the key to economic prosperity. T his article looks at diasporas in our region and their economic impact. What is a diaspora? The word diaspora derives from the Greek verb “scatter”. It literally means “I sow. I scatter”. [1] A diaspora is a population scattered across regions, around the world, which is separate from its country of origin. A loose interpretation is ‘an expatriate population’, but the true meaning is a bit more complex, and the economic implications even more complex, as we will find out. According to the Migration Data Portal website [2] , a diaspora is characterized by most, if not all, of the following features: Migration, which may be forced or volun...