2022-05-19 | NYSE:WU | Press release

Migrants are optimistic, technologically savvy and driven to build a better life for themselves

Additional research to measure migrant need and acceptance is underway in partnership with the Fletcher School at Tufts University

Western Union (NYSE: WU) today released new data exploring the perspectives and motivations of migrants* in the United States, United Kingdom, Germany, France, Japan and the United Arab Emirates.

This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220512006106/en/

Western Union today released new data exploring the perspectives and motivations of migrants in the United States, United Kingdom, Germany, France, Japan and the United Arab Emirates. (Photo: BusinessWire)

Today’s migrants represent a wide range of socio-economic backgrounds and contribute economically, culturally and in many other ways to their adopted countries. The results of the survey reveal three key insights:

  • Migrants are engines of optimism. Today, migrants from many parts of the world share that they feel valued and accepted, with positive attitudes towards their host countries. In the United States, for example:
    • 86% of migrants view the country positively, compared to 68% of the general population
    • 88% of migrants feel appreciated and 95% say they can succeed if they work hard
  • Migrants are at the cutting edge of technology. Always looking 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 USA:
    • 57% of migrants know cryptocurrency
    • 83% of migrants access financial services digitally or both digitally and in person
  • Migrants are motivated by the pursuit of a better future. Most migrants say they moved to the United States for better job prospects, higher pay, or to pursue education and training.

“Throughout history, people have crossed borders in search of new opportunities. For some it is a choice, 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 their communities,” said Devin McGranahan, President- CEO of Western Union. “The world’s 280 million migrants 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 sociopolitical 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 Affairs at Fletcher School. “As countries around the world emerge from the pandemic-induced economic contraction, those that better welcome and accept migrants will be able to fill their gaps in the labor market much more effectively; they are able to tap into diverse, globally aware and tech-savvy labor pools, and generate dividends for both 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 dashboard measuring countries’ need and acceptance of migrants associated with the momentum of migration to and from the countries. In addition, the collaboration will also focus on bottom-up analyzes of major remittance corridors and ethnographic studies of migrants and displaced communities.

More information about Migrant&CloseCurlyQuote’s ‘Today’ survey is available here.

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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 world-class global financial network connects more than 200 countries and territories and more than 130 currencies. We connect consumers, businesses, financial institutions and governments through one of the most extensive networks in the world, accessing billions of bank accounts, millions of digital wallets and cards and a vast global network of points of sale. Western Union connects the world to bring unlimited possibilities at your fingertips. For more information, visit www.westernunion.com.

* For the purposes of this study, migrants are defined as a person who crosses an international border away from their usual place of residence, temporarily or permanently, and for various reasons.