Posts Tagged ‘work visas’
Wednesday, May 11th, 2011
The quest for education has now become a global enterprise and, for many years, the quest for education meant coming to America. In many ways this dream still exists with many students coming to America to study. It used to be the case that many of these students would remain in the United States after they received their academic training. However, following 9/11 and the US government’s tightening of the H1B visa requirements, only some 65,000 work visas were granted over the past year. What this has meant for the hundreds of thousands of foreign students who come to study in the US is that they are increasingly returning to their home countries and starting important and lucrative businesses there that used to be started in the US. Silicon Valley is a prime example of this trend in which many Indian students that formerly might have remained in the Valley following their graduation from Stanford, UC Berkley or similar, now are returning to New Delhi, Calcutta, or Bangalore and similar locales in India and starting the next Amazon, eBay or Groupon there. This is a good thing for India but a bad thing for the US and soon, many of these students may not even bother coming to the US to study at all.