Australia ranked among safest places to do business
The volatility caused by the COVID-19 pandemic has pushed growth in investment migration and Australia has been ranked as one of the safest places to do business.
Australia ranked 13th on the Global Peace Index (GPI), 14th on the Ease of Doing Business index and 6th on the COVID-19 Regional Safety Assessment Rank; however, New Zealand ranks first, first and second on the three indexes respectively.
These were the findings released in the ‘Henley Passport Index Q3 Report’ which noted the changing landscape of migration during the COVID-19 pandemic.
Dr. Juerg Steffen, Henley and Partners chief executive, said the tumultuous events of 2020, including the unplanned pause during lockdown, had resulted in people from all walks of life re-evaluating their circumstances and reconsidering how they wish to conduct their lives.
“For those fortunate enough [that’s] choosing where they want to live by opting for investment migration,” Steffen said.
“Many are taking stock and ensuring they are better prepared for the next pandemic or major global disruption.
“The relentless volatility in terms of both wealth and lifestyle has resulted in a significant shift in how alternative residence and citizenship are perceived by high-net-worth investors around the world.”
Dr. Yossi Harpaz, assistant professor of sociology at Tel Aviv University in Israel, said the COVID-19 crisis had caused the world’s premium passports to lose some of their shine.
“For decades, visa policies were designed to keep out illegal immigrants, asylum seekers, and terrorists,” Harpaz said.
“Citizens of wealthy and democratic countries — including Canada, the US, and Western European nations — apparently posed no such risks and enjoyed extensive visa-free travel throughout the world.
“In the current crisis, a new category of risk has emerged: the spreader. Since the US and Western Europe were among the world’s hardest hit areas, their citizens faced stringent mobility restrictions.
“This is, of course, a temporary situation, but in the long run it is likely to erode the prestige of EU and Western passports.”
AUTHOR
Chris Dastoor
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