by Radu Magdin

The Role of a Diaspora: As a former member of the Romanian diaspora, the 5th largest diaspora in the world in absolute terms and the largest in percentage terms in the OECD, I can wholeheartedly say that a country’s diaspora is one of the most overlooked means of support to a country’s development.

For many countries, large and small, diasporas are at the hub of economic and cultural life. With first-generation migrants numbering about 215 million globally (40% over 1990 figures) and about 250 million working outside their country of birth, it is difficult to overestimate the centrality of diasporas: internationally connected, a diaspora can often be the main conduit of technological transfers; inherently entrepreneurial, a diaspora can both start and fuel the rise of export-oriented domestic businesses; multi-lingual and multi-cultural, diasporas often both bring home countries’ culture on the international stage as well as export their country of residence’s back home.

This places a country’s diaspora not as the afterthought it often comes across in policy papers but closer to the beating heart of a country, however far away it may very well be.

What Diasporas Can Do For Their Home Countries

Quite often a diaspora is central to nation-building itself. In cases such as Israel’s this is literal, not only are infrastructure bonds marketed at diasporas, but it stands as a country composed of a former diaspora.

Furthermore, diasporas are an important source of income and foreign currency. Tajikistan’s diaspora contributes, through personal remittances alone, to about 34% of GDP, while Nepal’s and Kyrgyzstan’s account for over 25% of GDP. Globally, about USD 515 billion was being transferred by diasporas around the world as late as 2018 and this figure is rising, to an estimated USD 800 billion by 2022 and a projected USD 815 billion this year.

Continuarea, aici.