While most migration is from developing countries to rich ones and is often met with hostility, it has played a major role in the development of over half of the 20 most talent competitive countries in Insead's Global Talent Competitiveness Index or GTCI 2015-16.

Among them is Switzerland with 27 per cent of its population being foreign born and Singapore with 43 per cent of its adults from overseas, but also the US, Canada, New Zealand, Australia and Ireland.

Rich countries continue to attract and retain the most foreign talents thanks to strong education systems, higher remuneration and a better quality of life. But Insead's  findings this year show that this is not a one-way flow - a “brain drain” as it used to be called. Countries that lose talent to others are increasingly able to capitalise on their diasporas.

Emigration brings four benefits to sending countries. First, migrants send home remittances, which can account for as much as 10 per cent of GDP in countries such as the Philippines. In fact remittances add up to twice the amount of global foreign aid, allowing families in developing countries to invest in the education of their children. Secondly, investments made by diasporas in their countries of origin represent a stable source of capital that is relatively immune to economic cycles. Third, there is a network effect whereby emigrants serve as role models and recruitment channels, providing expertise and advice to those in the home country. Fourth, experienced migrants who return home can bring back the expertise to build entire industries and increase the competitiveness of their home countries. Taiwan for instance, reversed in the 1980’s and 90’s its former “brain drain”, luring Taiwanese talent back from Silicon Valley and contributing to the transformation of Taiwan into a global high-end electronics manufacturer and exporter.

Find full report here: The World’s Most Talent Ready Countries, 2015