According to Professor William Gumede from the University of the Witwatersrand, South Africa is currently dealing with a major skills outflow that has reached a crisis point.
Gumede identifies three distinct groups of skilled migrants leaving South Africa: young professionals looking for job opportunities abroad, people starting families and making long-term plans; and senior professionals approaching retirement with significant experience and resources.
According to a white paper produced jointly by Playroll, OfferZen, and Aims International, the problem’s scope is extensive. According to the International Migrant Stock report from the United Nations for 2020, there would be 914,901 South Africans residing abroad by the end of that year, up from 786,554 in 2015. The fact that three times as many people left South Africa between 2015 and 2020 compared to the previous five years is even more concerning.
Most South African migrants reside in the United Kingdom, where there are about a quarter of a million people. New Zealand, Australia, and the US all closely follow. However, as younger generations increasingly decide to leave, essential skills emigration is more serious than these statistics indicate. Most South Africans who leave are between the ages of 25 and 40, and more than half of the nation’s graduates have the potential to do so in the future. Senior personnel with financial resources are also more likely to move.
Through data on the number of taxpayers ending their tax residency in the nation, the South African Revenue Service (SARS) offers additional insights into these developments. Over 40,500 taxpayers have terminated their South African tax residency in the last five years. Further evidence that younger South Africans are choosing to abandon their tax residency to pursue opportunities overseas is the growing number of lower-income earners among those departing the country.
It is essential to consider New Zealand as a desirable immigration destination for South African professionals, given the country’s critical skills needed. New Zealand provides a favourable environment for those looking for employment possibilities, stability, and a brighter future for their families because of its robust economy, high standard of living, and open immigration regulations. For South Africans wishing to capitalise on their knowledge and pursue a wealthy future, the nation is an excellent location because it actively welcomes skilled immigrants to contribute to its booming industries and values diversity. Contact Tri-Nations Migrations to book a consultation about your immigration opportunities today.