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There is a steady drop seen in the number of professionals emigrating from Kerala to the UAE. LinkedIn data shows that the proportion of professionals moving from God’s Own Country to the Gulf has been declining. The percentage of professionals migrating from Kerala to the UAE fell from 50 per cent in 2015 to 47 per cent in 2017. The same was true of migrations to Saudi Arabia from Kerala (6 per cent in 2015 vs 4 per cent in 2017).
According to the Kerala Migration Survey 2018, Kerala’s declining population in the 19-25 age-group, stagnant wages in the Gulf countries and the Qatar crisis are prompting people to evaluate other markets. The Gulf’s loss is Canada’s gain, shows LinkedIn data. Among Kerala’s migrating professionals who got hired in Canada, 16 per cent were software engineers. A liberal visa regime in Canada and a vibrant job market there is also prompting many Malayalis to use their Gulf stint as a stepping stone to move West.
Co-working consolidation
As competition heats up in the co-working space, consolidation is happening. Co-working space provider One Co.Work has just acquired IShareSpace, an emerging shared space provider. IShareSpace, which has been valued at $0.5 million to $1 million in the past, owned a total of five centres and 750 seats. The deal was closed for over ₹3.5 crore and post-acquisition, One Co.Work will have eight centres and 1,500+ seats.
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