America can simply be defined as a nation of immigrants. In fact, the success of United States would not be possible without the contributions of Green Card Lottery winner’s who have come to the shores from every corner of the world. How do immigrants strengthen the economy of United States? Here are some reasons to justify the above mentioned fact.
- Immigrants start new businesses – From a recent study conducted by the Small Business Administration of United States, it has been identified that DV Lottery winners are more likely to start new businesses when compared to non-immigrants. They have also figured out that 18% of the young entrepreneurs in the country are immigrants. They start new businesses and create jobs for Americans. The studies have also shown that more than 5 million Americans work for companies that were started by immigrants. These businesses generate more than $800 billion annually.
- Immigrants are the innovators, scientists and engineers – Even though 16% of the American residents hold a bachelor’s degree or higher educational qualifications, 24% of physical scientists, 27% of computer scientists, statisticians and mathematicians and 33% of engineers are immigrants. It has also been identified that more than 75% of the patents issued after 2011 have been given to immigrants.
- Immigration reform can increase the GDP of America – From a research conducted by the nonpartisan Congressional Budget Office, it has been found that comprehensive immigration reforms have the potential to increase the GDP of the country by somewhere in between 0.8 and 1.3%, even under low investment assumptions. Therefore, it can clearly be seen that Green Card lottery winners contribute a lot towards the economy of the country.
- Comprehensive immigration reform creates more job opportunities – It has been identified that comprehensive immigration reform has the potential to create about 900,000 new employment opportunities within a short time period of just three years. The Center for American Progress has found that this could result in an increase of consumer spending.
- Immigrants increase the demand for local consumer goods – The purchasing power of immigrants, especially Asians and Latinos can create a tremendous impact on the United States economy. In fact, the purchasing power of immigrants alone is somewhere around $1.5 trillion at the end of 2015. Therefore, it can clearly be seen that the DV Lottery winners contribute a lot towards the boost of demand for local consumer goods.
- Immigrants can increase the earnings of American employees – The number of immigrants through the American Green Card Lottery Program coming to United States has increased significantly throughout the past few years. This has increased the earnings of Americans as well. In fact, it has increased the earnings of Americans by about 0.7% during the past couple of years. From a study conducted by University of California at Davis, it has been identified that this figure would increase up to 1.8% in the upcoming years.
These are only few examples that prove how immigrants have contributed towards the economy of the country.