Survey says...that it is smaller and medium-sized multinationals that are most responsible for driving the trend of increased international mobility, according to the latest Finaccord survey report: Global Multinationals and Corporate Transferees: A Worldwide Review.
The review revealed that by 2021, there will be 13,900 multinational companies worldwide, which equates to a growth rate of about 3.2% between 2017-2021, and the number of expatriate employees and corporate relocating employees will exceed 1 million. Current estimates are that there are 838,600 expatriates and corporate relocating employees, and the population will grow at a 4.1% compound annual rate to get over the million threshold.
Another interesting element that was discovered was that Asia-Pacific is and will be creating the bulk of globally mobile employees. David Bowles, a consultant at Finnacord, states, “Among all multinationals globally, our analysis indicates that enterprises in two sectors – namely, energy and power plus professional services – are particularly significant, and that corporate mobile employees are being generated most rapidly by enterprises based in the Asia-Pacific region."
The top five producers of expatriates are located in the APAC region:
- Tata Group (India)
- Infosys (India)
- Wipro (India)
- National Petroleum (China)
- Foxconn (Taiwan)
The global trend for international mobility looks set to continue as smaller and medium-sized multinationals, in particular, drive growth and encourage greater movement of employees around the world.Multinational companies growing rapidlyThis is a key finding from a new study incorporating unique analysis from Finaccord, an international market research and consulting company, which is a division of Aon Inpoint, whose report Global Multinationals and Corporate Transferees: A Worldwide Review reveals that the number of multinationals worldwide is on course to reach 13,900 by 2021 while the number of employees who are classed as expatriate or corporate transferees will exceed 1 million.