South Africa's emigration headache: Economy cringing as locals leave

South Africa's emigration headache: Economy cringing as locals leave

- South Africans are packing up and moving to greener pastures and it has been felt by the nation's economy

- Private schools have noted a financial knock as students are pulled out and moved overseas

- The country's farmers are also leaving, with Canada benefiting from the unfavourable challenges facing the industry

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Difficult economic times and policy uncertainty have made it difficult for many to see a viable future in South Africa.

Foreign nations like Canada and Russia are seizing the opportunity to put farmers with capital from selling local assets and putting them to good use improving agricultural endeavours overseas.

The Citizen reports that thousands of SA farmers are happily obliging, moving their families and their incomes to greener pastures.

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The South African reports that the nation's private education sector has felt the impact of this, noting students have been following their parents out of the country, resulting in a loss of income for many institutions.

The impact of this exodus can be felt the most in tax revenue, which is steadily declining as the middle-class takes their chances elsewhere.

With policies such as the NHI dependent on this revenue to succeed, the issue is only set to worsen as time goes on, should confidence not be reignited in South Africa.

Briefly.co.za reported that unemployment has hit a ten-year low and with agriculture and education employing so many, the issue looks set to cause a lasting headache for the country.

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Source: Briefly.co.za

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