New US Visa Fee of $100,000: How This Will Change the Job Market for Canada

The President of the United States, Donald Trump, has signed an order introducing a new visa fee of $100,000 for H-1B work visas. This decision has raised concerns among American companies that rely on foreign talent, while simultaneously opening new opportunities for Canada, which seeks to boost its productivity and accelerate economic growth. This is reported by the Ukrainian publication 'Hlavkom' referencing Bloomberg.

Prospects for IT Specialists in Canada

The new US policy may redirect the flow of qualified specialists, including engineers, programmers, and scientists, northward. Garry Tan, CEO of the renowned startup incubator Y Combinator in San Francisco, called this decision 'a massive gift for every foreign tech hub.' He noted that now cities like Vancouver and Toronto can begin to thrive at the expense of American ones.

For many years, Canada has faced a 'brain drain' as its top specialists moved to the US for higher salaries. According to the analytics center The Dais, the average salary of a tech worker in the US is 46% higher than in Canada. However, experts believe the new visa fee might change this dynamic, as hiring foreigners will become financially unfeasible for small and medium-sized companies in the US.

Canada is Ready to Welcome New Tech Specialists

Giants like Amazon and Microsoft, which already have offices in Toronto and Vancouver, may increase the number of jobs there to bypass visa fees.

Prime Minister Mark Carney emphasized that Canadian universities are among the leading institutions in AI and quantum computing, and now the country will be able to 'retain' more graduates. However, Canada faces challenges, including the need to address infrastructure and housing issues, so that the influx of new specialists does not worsen the situation for the local population.

The order signed by President Donald Trump to introduce a visa fee for H-1B work visas of $100,000 opens new opportunities for Canada, which can accommodate talented specialists who previously migrated to the United States. This decision may stimulate the development of the technology sector in the country and contribute to its overall economic growth, but it also creates challenges related to the need for improved infrastructure and housing for new residents.