BRUSSELS: Strong migration policies can help drive growth and competitiveness in Europe and Central Asia, according to a report released Thursday by the World Bank. “Aging populations are making migration increasingly vital for unlocking economic growth, boosting competitiveness, and tackling inequalities in Europe and Central Asia,” said the report titled “The Journey Ahead: Supporting Successful Migration in Europe and Central Asia.”
According to Anadolu Agency, the report highlights that as populations age in high- and middle-income countries worldwide, there is an intensifying competition for workers. The World Bank noted a projected 14% decline in the working-age population in western Europe from 2020 to 2050, emphasizing the necessity to attract foreign workers to sustain economic growth in the coming decades.
In many countries within Europe and Central Asia, emigration contributes to income flows through remittances, investments, and skills transfers. However, it also poses challenges such as brain d
rain. Michal Rutkowski, World Bank Regional Director for Human Development in Europe and Central Asia, stated that well-managed migration can benefit all parties involved, including countries of origin, destination countries, and migrants themselves. Effective migration policies can align workers’ skills with the needs of destination countries, strengthen refugee support, and alleviate pressures that compel people to migrate.
The report also identified rising income disparities, climate change, and conflicts as factors expected to influence global migration trends. The World Bank recommended that governments differentiate between high-skilled and low-skilled migrants, as well as refugees, to create tailored solutions addressing specific needs and reasons for migration. The report emphasized that evidence-based policies promoting safe and orderly cross-border movements are crucial for maximizing the shared benefits of migration.