Rich countries should prepare for levels of mass migration like those hitting Europe, but it could be the key to global economic growth, a report by the World Bank and International Monetary Fund says.
Inequality will continue to drive migrants toward developing states, the report explains, but these flows have the potential to reverse demographic imbalances, boost prosperity and ultimately end extreme poverty, according to Development Goals in an Era of Demographic Change, released in Peru at the start of the annual meetings of the World Bank and the IMF.…
"If countries with aging populations can create a path for refugees and migrants to participate in the economy, everyone benefits, Most of the evidence suggests that migrants will work hard and contribute more in taxes than they consume in social services," World Bank Group President Jim Yong Kim said in a press release. "With the right set of policies, this era of demographic change can be an engine of economic growth," he added.
Get set for decades of migration: World Bank, IMF