South African Emigration and Travel Trends – Life after COVID
South Africans have been emigrating for years, but have there been any shifts in trends since COVID, the work-from-home revolution, and, of course, the current state of the country? Let’s take a look at some things you might not have known about the status of emigration, and travel, in South Africa.
Whilst many emigrate to seek a more stable economy, a safer environment, and general stability, there have also been a few surprising developments in this space. As more people explore what it means to be a South African in this new global landscape, education has become the true cornerstone of this shift, as there’s been an increase in the amount of South Africans moving abroad to study.
According to Sable International Study Abroad’s managing director, Brent Morris, an average of 11 000 South Africans study overseas each year, and the most popular destinations are the USA, UK, Australia and Germany.
It’s no surprise that English-speaking countries top the list, but what is surprising is that many of these students don’t necessarily remain in the country where they study; they often use their time studying abroad to open doors to them permanently living abroad. While South Africans tend to choose English-speaking countries to study in, it’s worth noting that the rest of the continent tends to favour China and France.
And it’s not only first-time students who are interested in studying abroad. Professionals wanting to further their education are also more interested in doing so abroad, according to BrandMapp.
Outside of study-related emigration and travel, South Africans (and the rest of the world) have started globetrotting similarly to how it was before the pandemic. As COVID-19 restrictions have been dropped around the world, people are finally embarking on the trips they’ve been planning or thinking about for the past few years.
“What is interesting is that younger people are travelling more, and for longer – and they’re working while they do it,” says Kabelo Makeke, Head of Consumer & HNW Clients at Standard Bank. “This has created an entirely new kind of ‘emigration’; a temporary arrangement whereby remote workers are allowed to reside in another country, while still working for home-based companies.”
Digital nomads are a real thing now, and a multitude of people make their livelihoods whilst travelling around the world and calling different countries home, at least for a while. This is particularly true for the 25-34 age group, with young professionals living abroad whilst working for South African businesses. So while their relocation might not be permanent (to be able to work as a digital nomad, you will need a specific digital nomad visa), these individuals are certainly living emigrant-style lives.
According to Getaway, some of the countries that are currently the most popular for digital nomads are: Georgia, Estonia, Norway, Costa Rica, Bermuda, Mexico, Portugal, Czech Republic, Germany, Spain, Greece, France, Croatia, Malta, Iceland, Mauritius, Barbados, and Dubai.
“South Africans are not only studying abroad more, but they’re also living abroad whilst working for South African companies, creating a truly global economy and job market,” says Erik Olwagen, Head of Distribution, Standard Bank Offshore. “This adds an entirely new aspect to emigration, and also the exposure and expertise these travellers will hopefully bring back to South Africa.”
“When making such a big lifestyle change, it really is vital to have a financial partner that can help you across the board,” Olwagen continues. “Standard Bank offers a range of offshore solutions, from Shyft, our award-winning forex app, to international bank accounts, savings and investment options and more.”
With all these tools and services at its disposal, Standard Bank is perfectly suited to helping you manage the process of either working, living, or emigrating abroad. For more information on their offering, visit www.standardbank.co.za/privatebanking to get in touch with our Prestige or Private bankers.
Disclaimer
The information set out in this document is general in nature and is not intended as advice. The views and opinions expressed in this document are for information purposes only and Standard Bank makes no representation and assumes no responsibility for the accuracy of the information, or whether it meets your needs, and such information is subject to change without notice. We recommend that you seek independent professional advice before any commitment is made.