Migrants significantly contribute to economic growth
Migrants contribute to economis growth in both their countries of origin and their countries of destination.
Many migrants send money, known as remittance, back to their home country. In 2015 alone, migrants sent $432 billion back to developing countries.
This is triple the amount of money sent globally as development aid.
This flow of money from megrants represents not only a source of foreign exchange for developing countries but crucially a reliable source of income for millions of families.
When the global financial crisis hit in 2008, direct foreign investments in developing countries plunged 89% while remittances only dipped 5%. Migrant adds significantly to the economics of their host countries, contributing more in taxes and social contributions than they receive in individual benefits.
Related Articles
Princes and bankers and aid! Oh my!
05/26/2017. Despite external criticism and some of their own internal discomfort, more humanitarians are engaging with the World Economic Forum than ever before and see such spaces as critical for solving today’s complex crises.
Redesigning Humanitarian Action: Beyond the Crisis
01/19/2017. This talk features some interesting insights from Peter Maurer, Filippo Grandi and Ajay Banga.
The king of Morocco made an important speech against jihadism. Will it work?
08/20/2016. “Those who engage in terrorism, in the name of Islam, are not Muslims. Their only link to Islam is the pretexts they use to justify their crimes and their folly.”
