Economically rich nations prefer to outsource their work to skilled workers of poorer nations to increase their profit margin. Even though developing nations require their people to help them develop as a nation, allowing other countries to appoint their workforce is felt as a greater benefit to the host in terms of economic and educational advancement. This essay shall analyse how employment by foreign companies is beneficial for the overall growth of developing nation.
Firstly, when developed empire outsources their work, the demand for labour increased in underdeveloped states, which leads to other advancements such as education. For example, by the late twentieth century, the influx of software related work from the United States to the Indian market consequently resulted in equal growth in the Indian tech-related educational institutions. This example clearly demonstrates the positive impact of foreign labour concept. This means, if poorer nations make their skilled labour available for hire to the world, they also develop their national infrastructure, educational colleges for instance.
Secondly, this trend of working in international companies would increase the economy graph of the poor nation. Let us take the above example of the United States offering a great deal of employment to Indian labour. Majority of candidates working in these institutions, would keep their earned income in Indian banks or invest in host country only, this would boost the overall economy of poor sates. As per recent report submitted by XYZ, a major chunk of money in the Indian banks is contributed by the employees working in foreign corporates.
As far as the requirement of a workforce by poor country is a concern, there are masses which are unemployed and need to put on work. Therefore, the government should work in transforming unskilled masses to skilled, by providing better education and job opportunities. This would solve the issue of both skilled and unskilled population while enjoying the above-discussed benefits at the same time.
To conclude, meeting the demand of foreign projects would be beneficial for developing countries overall growth in the field of learning and finances, without any detrimental effects.
Economically
rich
nations
prefer to outsource their
work
to
skilled
workers of poorer
nations
to increase their profit margin.
Even though
developing
nations
require their
people
to
help
them develop as a
nation
, allowing other
countries
to appoint their workforce
is felt
as a greater benefit to the host in terms of economic and educational advancement. This essay shall
analyse
how employment by
foreign
companies
is beneficial for the
overall
growth of developing nation.
Firstly
, when developed empire outsources their
work
, the demand for
labour
increased in underdeveloped states, which leads to other advancements such as education.
For example
, by the late twentieth century, the influx of software related
work
from the United States to the Indian market
consequently
resulted in equal growth in the Indian tech-related educational institutions. This example
clearly
demonstrates the
positive
impact of
foreign
labour
concept. This means, if poorer
nations
make
their
skilled
labour
available for hire to the world, they
also
develop their national infrastructure, educational colleges
for instance
.
Secondly
, this trend of working in international
companies
would increase the economy graph of the poor
nation
.
Let
us take the above example of the United States offering a great deal of employment to Indian
labour
. Majority of candidates working in these institutions, would
keep
their earned income in Indian banks or invest in host
country
only
, this would boost the
overall
economy of poor sates. As per recent report submitted by XYZ, a major chunk of money in the Indian banks
is contributed
by the employees working in
foreign
corporates
.
As far as the requirement of a workforce by poor
country
is a concern, there are masses which
are unemployed
and need to put on
work
.
Therefore
, the
government
should
work
in transforming unskilled masses to
skilled
, by providing better education and job opportunities. This would solve the issue of both
skilled
and unskilled population while enjoying the above-discussed benefits at the same time.
To conclude
, meeting the demand of
foreign
projects would be beneficial for developing
countries
overall
growth in the field of learning and finances, without any detrimental effects.