The impact of mass migration has hit headlines around the world in recent months, but according to the World Bank, the benefits of large-scale immigration could drive forward the global economy in the coming decades.
In a major new report — released to coincide with the start of the World Bank and International Monetary Fund’s annual meetings, this year taking place in Lima, Peru — the bank argues that the current mass migration happening throughout the world can be a major driver for the global economy in years to come.
The report, titled Development Goals in an Era of Demographic Change argues that the current pattern of mass migration can “reshape economic development for decades and, while posing challenges, offers a path to ending extreme poverty and shared prosperity”
In a statement, World Bank President Jim Yong Kim said “With the right set of policies, this era of demographic change can be an engine of economic growth… If countries with aging populations can create a path for refugees and migrants to participate in the economy, everyone benefits.
