World Bank: Migration file may help economic growth

The World Bank has confirmed that the management of migration by the countries of the world and making it part of the business strategy of the countries of origin and destination will help promote global economic growth and support the prosperity of citizens of all social groups.

In a new report, World Development 2023: Migrants, Refugees and Societies, the World Bank said that “the unprecedented increase in the proportion of older people among the world’s different countries is increasing the dependence of many countries on migration so that they can achieve long-term growth.”

The Bank therefore considers this trend to be a unique opportunity to improve the role of migration in the service of economies and people; The population of rich countries is declining, as are an increasing number of middle-income countries that are traditionally among the main sources of migrants, thus intensifying global competition for employment and talent.

This comes as large corporations and giants abandon thousands of workers and employees, threatening to increase unemployment in these countries, as well as rapid demographic changes in some countries.

Commenting, Axel van Trutsenberg, Senior Managing Director of the World Bank, said that “migration can become a driving force for prosperity and development; If properly managed, they benefit all, in the countries of origin and destination. “