Net international migration to the U.S. peaked at 2.7 million new entries in 2024, but has since sharply declined. It fell to 1.3 million last summer, according to January Census data, and then turned net negative, according to research from Brookings, meaning more people are leaving the U.S. than coming in. The private sector has weighed in, too, with Goldman Sachs economists reporting last week that immigration policies put in place over the past year have resulted in an 80% decline in net migration relative to the historical average.
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在这一基础上，2026年华住还将加速轻资产模式发展，进一步提高管理加盟及特许经营业务（M&F）的收入占比，降低对自有资产的依赖，从而提升经营杠杆效率与抗周期能力。