I noticed this in Taiwan between 2018-2020 when I was staying there. A highly educated population but with little to no opportunities. Most of very ambitious talent found jobs in China or Singapore.
A strong business environment, or strong investment opportunities, or a large consumer base is very much needed to have attractive jobs. A strongly educated workforce does little to enable such an environment. Intuitively, it is just very hard to make money off of a small, low income population, and it is even harder to export services built for a local market to a non local market. So the ambitious talent just find opportunities elsewhere.
It also depends how hard it is to migrate out of the region. If there are strong family ties and good standard of living, you'd be surprised at how much talent is willing to stay.
Interestingly enough, Taiwan in 2024/2025 has seen huge growth in wages, for many reasons, but the biggest IMO being the highly educated workforce.
I think its just perception. A place that is smaller will appear to have more movement because its across country, while in China or the US you would just move internally. Taiwan had amazing economic growth for 50+ years.
The reality is that in all places the most ambitious people are likely going to move, as such talents usually depend on specific environments.
And with things like TSMC in Taiwan, claiming anything close to 'no opportunities' is a bit ridiculous.
I worked in a recruitment company in SEA for software devs and management/exec layers.
Just sharing my perspective, Taiwan's Software Devs were paid 1/3 of what devs in SG or HK are paid, the biggest reason being there aren't any software companies headquartered in Taiwan that are big/growing fast enough to offer competitive salaries to SG / HK. In SG/HK you have banks, hedgefunds and tech companies all competing for talent—Grab, Amazon, Google, Shopee, DBS, HSBC, etc, pushing up prices to be competitive globally. Taiwan's local companies have to make enough money to pay global salaries for strong talent, or they just get their best talent poached by SG/HK or China (which has plenty of strong tech giants of their own).
But... a tiny 23 million population island where the average wage is low and people are generally happy and content... is not a great business environment for startups. I think some local startups saturated the Taiwan market with like 70% of the island's population in their database... and like $2-5m US revenue/yr? Great achievement but not a large base for continued rev growth.
As a Taiwanese company, you are not winning against bigger tech companies in China. Neither are you building for english speaking audiences of SEA because Taiwan's english is not native... in short, the local market conditions is just unable to pay for global level talent, who leave.
This is a software dev focused view of Taiwan, but it applies to all or most other industries not named TSMC.
Interesting view of Taiwan. What is the Taiwanese view of China. Do a lot not mind migrating to China or do they hate China, and want to be independent?
A strong business environment, or strong investment opportunities, or a large consumer base is very much needed to have attractive jobs. A strongly educated workforce does little to enable such an environment. Intuitively, it is just very hard to make money off of a small, low income population, and it is even harder to export services built for a local market to a non local market. So the ambitious talent just find opportunities elsewhere.
It also depends how hard it is to migrate out of the region. If there are strong family ties and good standard of living, you'd be surprised at how much talent is willing to stay.
Interestingly enough, Taiwan in 2024/2025 has seen huge growth in wages, for many reasons, but the biggest IMO being the highly educated workforce.