Adams also pointed out that this tide of young people includes many successful entrepreneurs who will create the new products, services and businesses of the future.
This entrepreneurial emphasis echoes the comments of John Wennersten, who authored “Leaving America: The New Expatriate Generation.” He identified new American expats as: “The high achievers, people familiar with the world of information technology, marketing people and young entrepreneurs.” They are not the backpacking kids who have decided to teach in China for a year, although that is still part of the equation. Many younger people are moving to emerging countries to start businesses, which is particularly true of the Middle East, the Persian Gulf and Australia.”
Also notable was that all age groups significantly increased their interest in moving abroad from 2007 to the 2011 study. The 35-to-54-year-old Generation X group increased from 0.9 percent to 2.1 percent and 55-to-69-year-old Baby Boomers from 0.6 percent to 2.1 percent.
What is motivating Millennials? “If you think about it,” Adams said, “it makes perfect sense. Younger people are far better traveled than any previous generation for one thing. And, because of globalization, they are exposed in school and through the news media about life in other countries. They also have peer communication with those who have traveled or lived abroad.”
Adams told us he thinks two big revolutions have fostered this Millennial migration: the communications and transportation revolutions. “The Internet has made it possible to live and work anywhere in the world and stay connected,” he said. “And, we can now go to more places than ever before. Since the end of the Cold War in the early 1990s, for example, more countries have opened their borders to Americans. It also has never been cheaper to fly to another country.”
If you would like more information about these studies, you can visit the website that Bob Adams maintains for that purpose.
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