HYDERABAD: The shrinking
overseas job market
has led to many young
professionals
returning to Hyderabad, in search of work. This
reverse migration
is particularly on the rise from popular destinations such as the US, UK and Canada - each of which has seen a jump in its unemployment rate in recent months.
In fact, a recent report on International Mobility Trends conducted by the
Boston Consulting Group
stated how the percentage of Indians willing to work abroad has dropped from 78% in 2020 to 54% in 2023.
It cited "financial and career considerations" as the key reason for this shift in trend.
The new preferred choices: Hyderabad, Bengaluru and Delhi. "People consider relocating primarily for economic and
career growth opportunities
. Around 52% from the total respondents are choosing India for quality of job opportunities, 37% for income and cost of living, 29% for innovation and digitalisation. Family-friendly environment, safety and security, quality of life are also major factors," the report added.
The influx of professionals to Hyderabad in particular is driven by the city's booming IT sector, lower cost of living, and its image of being safe, said those who have recently relocated.
"When I moved to the UK on a student visa in 2020, I hoped that my master's in computer science would help me land a lucrative job with big perks. But after my course, I found myself struggling for decent employment. Since my wife had travelled with me as a dependent, I had to settle for a job in a convenience store to pay bills. I decided it was enough and returned home," said S Sudarshan Rao, who, incidentally, had a six-figure salary with a finance company in Hyderabad before he left.
He has found himself a well-paying job on his return as well. "My foreign degree helped, and I realised how there's relatively more work here. Not just in the IT sector but other sectors like finance, pharma, etc have ample openings," added Rao.
The relentless fight for work, which forced him to juggle multiple odd jobs, is why Khaitan Qureshi from Akola, Maharashtra also decided to give up on his Canadian dreams. "I was unable to make ends meet. My monthly expenses in Canada ranged from $1,500 to $2,000. This was more than I could earn and I also had an education loan to repay. At one point, I realised buying a ticket to India was cheaper than managing next month's budget," said the 28-year-old has also flown into Hyderabad to pick up a job as a software developer. "Now, I able to save almost 40% of my salary," he added
Emotional support also key, say some
Though the report stated that social systems, healthcare, political stability, or a more accepting society etc are not the main drivers of job-related mobility, some cited safety and security and lack of emotional support as reasons for their reverse migration. "Though I was fortunate to land a respectable job after my master's in business management in the US, I soon found myself lonely with no one to talk to. Hectic work schedule along with house chores and lack of emotional support pushed me into depression. Also, news about attacks on Indian students made me wary of going out. Eventually, I packed up and moved back to my home city. Honestly, I don't regret it at all," said Adnan Ali, working as a data analyst at a firm in Nanakramguda.
English (US) ·