Working Paper

Investment Migration Globally: The Dynamics of Supply and Demand

Published 15 June 2022 / By Kristin Surak

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Introduction

Over the past decade, interest in investment migration programs has grown substantially, yet empirical research has not followed it apace. The discussion below offers an empirical overview of the field of investment migration globally, focusing on supply and demand, as well as the demographic uptake of several key programs. The discussion first sets out the defining features of investment migration programs and distinguishes them from neighboring – and often conflated – means for acquiring citizenship or residence. It then introduces the historical origins of the contemporary scene in investment migration and dissects the dynamics of the global market in investment migration. Finally, it analyzes the structure of supply and demand, as well as change over time, focusing empirically on citizenship by investment programs globally and residence by investment programs in the European Union. In this tour, I also address key methodological issues that emerge in the study of the investment migration market and should be taken into account when assessing its dynamics. The analysis concludes by discussing the most significant empirical development in the field in recent years: the rise to predominance of investment migration programs in the Global South.

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