Western Union Shares Fresh Insights on Today’s Migrants
May 19 2022 - 8:00AM
Business Wire
Migrants are optimistic, technologically
savvy and motivated to build a better life
Additional research to measure the need for,
and acceptance of, migrants underway in partnership with The
Fletcher School at Tufts University
Western Union (NYSE: WU) released new data today exploring the
perspectives and motivations of migrants* in the United States,
United Kingdom, Germany, France, Japan and the United Arab
Emirates.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220512006106/en/
Western Union released new data today
exploring the perspectives and motivations of migrants in the
United States, United Kingdom, Germany, France, Japan and the
United Arab Emirates. (Photo: Business Wire)
Today’s migrants represent a diverse range of socioeconomic
backgrounds and contribute economically, culturally, and in many
other ways to their adopted countries. Survey results reveal three
key insights:
- Migrants are engines of optimism. Today’s migrants in
many parts of the world share that they feel valued and accepted,
with positive attitudes towards their host countries. In the U.S.,
for example:
- 86% of migrants view the country in a positive way, versus 68%
of the general population
- 88% of migrants feel appreciated and 95% say they can do well
if they work hard
- Migrants are tech-forward. Always on the lookout for a
way to make their lives easier or better, today’s migrants are
familiar with cryptocurrency and comfortable with digital financial
services. In the U.S.:
- 57% of migrants are familiar with cryptocurrency
- 83% of migrants access financial services digitally or a
mixture of both digital and in person
- Migrants are motivated by a pursuit for a better future.
Most migrants say they moved to the U.S. for better job prospects,
higher pay, or to pursue education and training.
“Throughout history, people have moved across borders in search
of new opportunities. For some it is a choice, and for others a
necessity. At Western Union, we consider it a privilege to support
today’s migrants as they build the better future they envision for
themselves, their families, and communities,” said Devin
McGranahan, Western Union President and CEO. “The 280 million
migrants globally represent a major economic force, so it is
important to understand the perspectives, motivations and ambitions
of these essential members of society.”
Western Union has also partnered with The Fletcher School at
Tufts University to explore where economic opportunity, skills
shortages, and a socio-political openness to migration are likely
to intersect and create the next geographies of social stability,
economic growth, and innovation.
“The need for labor had surpassed pre-pandemic levels in
countries like Australia, Canada, the United States, and several
others by the end of 2021,” said Bhaskar Chakravorti, dean of
global business at The Fletcher School. “As countries around the
world emerge from the pandemic-induced economic contraction, those
that are more welcoming and accepting of migrants will be able to
close their labor market gaps much more efficiently; they are able
to tap into diverse, globally aware, and technology savvy labor
pools, and generate dividends both for the home and host countries
in the process.”
This collaboration between Western Union and The Fletcher School
at Tufts University will include the development of the “Migration
Quotient”—a scorecard measuring countries’ need for and acceptance
of migrants coupled with the momentum of migration into and out of
countries. In addition, the collaboration will also focus on
bottom-up analyses of key remittance corridors and ethnographic
studies on migrants and displaced communities.
More information from the ‘Today’s Migrant’ survey is available
here.
WU-G
About Western Union
The Western Union Company (NYSE: WU) is a global leader in
cross-border, cross-currency money movement and payments. Western
Union’s platform provides seamless cross-border flows and its
leading global financial network bridges more than 200 countries
and territories and over 130 currencies. We connect consumers,
businesses, financial institutions, and governments through one of
the world’s widest reaching networks, accessing billions of bank
accounts, millions of digital wallets and cards, and a substantial
global network of retail locations. Western Union connects the
world to bring boundless possibilities within reach. For more
information, visit www.westernunion.com.
*Migrants for the purpose of this study are defined as a person
who moves across an international border away from his or her place
of usual residence, temporarily or permanently, and for a variety
of reasons
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version on businesswire.com: https://www.businesswire.com/news/home/20220512006106/en/
Western Union Media Contacts
Western Union Global Communications Rachel Rogala;
Rachel.Rogala@wu.com + 1 (303) 808-2674
Western Union Americas Brad Jones;
Bradley.Jones@wu.com
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