5 Reasons Why The Diaspora Matters

A common feature of globalization today is the increasing movement of people around the world. Advancements in technology and Communication has turned the world into a global village where people can travel easily around the world within the shortest possible time. Travelling out of one’s country of origin is usually motivated by diverse factors ranging from the search for better living conditions and for security to taking advantage of economic opportunities. Once out, these persons are said to belong to the diaspora.

Although physically far away, people of the diaspora remain an integral part in the functioning and growth of their homelands. Their contributions and importance cannot be undermined. Cameroon’s diaspora make up about 5% of its total population and they have been making significant contributions to the country in several ways.

1. The Diaspora contributes in the transfer of skills, knowledge and Technology

Many countries are developed today thanks to the transfer of technology and skills from their diaspora. Japan, Taiwan, China are examples of economies that have linked on their diasporas as knowledge sources. Due to the uneven distribution of resources, sometimes people are forced to go to the diaspora where they can easily carryout research and innovation that will be transferred to their countries of origin.

2. A good number of large scale and small size investments are done by the Diaspora

Giving back home to their communities is one of the major preoccupation of the diaspora. This is usually done through several ways. From large scale investments, to creating and financing small and medium size enterprises the diaspora remains a major source of investment to the country. The diaspora can equally boosts import and export trade due to their exposure and access to other cultures. Members of diasporas can increase investment flows between sending and receiving countries because they possess important information that can help identify investment opportunities and facilitate compliance with regulatory requirements. Diasporas may use the information they have regarding their countries to invest directly.

3. The Diaspora is a driving force for economic growth and development through policy and decision making

Most often Cameroonians in the diaspora are in countries better off, well organized and structured. This does not only make them open to ideas as regards policy and law-making, but it stirs up a desire in them to push for and contribute to the economic growth of their own homeland. As a result, the diaspora’s opinions are often sought after when a country wants to undertake major decisions.

4. Through Remittances, the diaspora is a source of finance

Remittances play an important role in reducing poverty. They help households diversify their sources of income while providing a much needed source of savings and capital for investment. According to the World Bank, remittances are also associated with increased household investments in education, entrepreneurship, and health, all of which have a high social return in most circumstaces.

5. And last but not least, the diaspora spotlights their homeland at the international level

The diaspora usually makes the presence of their home country felt at the International level through their various achievements and contributions to the host country.