The research aims to provide a review of the brain gain and brain drain phenomena in the emerging market context. Specifically, we investigate the push and pull factors of talent migration focusing at society-, firm-, industry- and location-specific determinants, and develop a theoretical framework that establishes the relationships between different types of factors and global talent management. The paper extends the understanding of the role of global talent management and global talent mobility in non-Western contexts. Through a series of propositions, we claim that global talent management, as a system of practices aimed at attracting, developing and retaining talented workers on a global scale, may serve as a mediator in transforming outward talent migration into inward talent migration, thus stimulating future empirical research on the topic.