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Report appreciates Canada’s policies to attract global talents including Global Talent Stream

Canada’s policies to attract global talents including Global Talent Stream

Canada’s policies for attracting global talents including the launching of the Global Talent Stream, which proved to be highly effective, have been appreciated by a new white paper from the Graduate Management Admissions Council (GMAC). The report points out that the innovative policies of Canada such as the Global Skills Strategy are helping Canada ‘to yield economic benefits in the years and decades to come’. The report has also commended Canada’s successful efforts to attract international students and retain them in the country after they graduate. The report studies the flow of global talents in five countries, which are Canada, USA, UK, India and China.
The white paper titled ‘Early Warning Signals: Winners and Losers in the Global Race for Talent’ points  out that, in the context of demographic challenges being faced by Canada, the only way the country can meet the demand for talents needed for the growth of its economy is through immigration. It says that while immigrants constitute almost 20 percent of the total Canada population, they hold half of all degrees in STEM (Science, Technology, Engineering and Mathematics) subjects.
Global Skills Strategy
The Global Skills Strategy of Canada plays an effective role in attracting skilled workers specialized in STEM areas. The Global Talent Stream launched in June 2016 is part of this strategy. Under the Global Talent Stream, the processing of work permit for the most in-demand occupations in Canada takes only two weeks. It also allows short-term work permit exemptions. The Global Talent Stream has effectively brought down the processing time from almost one year earlier down to 10 working days.
Even while Canada has successfully brought down the processing time of work permit applications of foreign workers, neighboring US, which once used to be the favorite immigration destination for skilled workers, increased the red tape under its H-1B visa. As a result, the skilled foreign workers, who would have looked to the US otherwise, is now turning towards Canada.
Along with successfully implementing its Global Skills strategy, Canada has also been successful in attracting international students, according to the report. The number of international students who apply to the US has come down, while more of them are eager to explore the limitless opportunities   waiting for them in Canada. According to the report, Canada has witnessed an 8.6 per cent increase in international business school applications in 2019. In 2018, the percentage of increase was 16.4. According to the report, this is ‘a positive signal for the country’s future and mobility trends ahead’.
The report also highlighted the established pathway for international students to get their Canadian degrees, work in Canada after they graduate and qualify for permanent residence. Canada currently has a total of 572000 Study Permit holders. Earlier, a survey conducted by the Canadian Bureau of International Education in 2018 had revealed that 60 percent of the international students who come to Canada plan to become permanent residents in the country. According to the GMAC report, “Collectively, these efforts are bearing fruit, when it comes to shoring up talent for the economy for the long-term.”
The welcoming policy of Canada towards immigrants has made the Canada immigration process an easier and faster affair. So if you are planning to migrate to Canada, there is no better time than now to start the process. Contact us to explore your options to make Canada your permanent home.

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