London, United Kingdom--(Newsfile Corp. - May 21, 2024) - CS Global Partners has released the third edition of the World Citizenship Report (WCR) 2024, with more insightful information that depicts global mobility trends that have taken place since last year.
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The CS Global Partners WCR remains the flagship analysis of the most pressing issues facing global citizens.
The 2024 WCR features a particular focus on this year's global elections. This year will be impactful for global citizens as half of the world's population will be voting in an election this year.
The ability to travel with ease between different jurisdictions is an important tool for the businesspersons and investors. This global mobility will be affected by electoral change, as the flow of talent, goods, and services across borders can be impacted by changes in governance. These flows drive economic growth and societal connectivity.
Global mobility is the fifth motivator in the WCR centred around the freedom to travel to various countries. Having an alternative passport provides security against potential economic, political, or health crises.
Interestingly, the 2024 edition of the WCR found that less than 20 per cent of high-net-worth-individuals (HNWIs) think that the most important aspect of a second citizenship is 'having access to countries and travelling more freely.'
According to the 2024 HNWI survey, 40.5 per cent of HNWIs favour the freedom of travel for leisure or pleasure, as the top perk of enhanced global mobility by virtue of a second citizenship. Following this, 22.4 per cent find the best aspect of global mobility to be freedom to travel for safety or security.
The 2023 edition of the WCR found that global mobility has shaped how remote work and digital transformation helped people explore various forms of freedom. Notably, 31 per cent travel for leisure, followed by 23 per cent travel for business and 22 per cent for safety and security, as important factors for travel freedom.
There is a growing number of countries granting remote work visas, which in turn has attracted HNWIs and employees to the host country.
How is global mobility evolving?
Global mobility is ever evolving through several factors that influence dynamic patterns of cross-border movements. The reasons behind this phenomenon are typically for business, education, tourism, fostering improved international relations and migration. These factors include:
Globalisation: in recent years, globalisation has caused increased interconnectedness between countries and continents, and increased trade and investments.
Shifting workforce: International businesses are seeking highly skilled workers from around the world that are also talented, which is influencing the movement of workers across borders.
Environment: Climate change impacts the way the world is travelling from the forms of transportation to identifying ways to reduce carbon footprint.
Immigration legislation and regulation: Immigration policies and visa regulations play a significant role in shaping global mobility. Countries frequently alter their immigrations laws in response to shifts in their economy; these changes impact the way individuals travel.
The WCR's unique contribution
The WCR explores factors that motivate HNWIs to consider a second citizenship. The 2024 WCR conducts this examination within the context of global elections, categorising countries according to five key motivators and unique insights from celebrated academic and business contributors.
Unlike other assessments that focus solely on global mobility, the WCR evaluates the best global citizenships based on multiple factors valued by global citizens.
With the assistance of years of research, the WCR introduced the World Citizenship Index (WCI), a comprehensive tool that takes an integrated approach to rank citizenships worldwide. Departing from traditional assessments, the research incorporates an ethical perspective, emphasising diverse attitudes towards the fundamental aspects of belonging to a country and holding its citizenship status.
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Contact Information:
Nandi Canning
Email: nandi.canning@csglobalpartners.com
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