World Bank Pronounce Migration as Prosperity, Positive Development
The World Bank claims that migration, also known as “Japa” in Nigeria, may be a strong engine for wealth and progress if managed effectively as the global competition for qualified workers increases and populations in rich and middle-income nations age.
This is stated in a recent World Bank research, which also notes that populations worldwide are aging at an unprecedented rate, making many nations more and more dependent on immigration to realize their potential for long-term prosperity.
‘The World Development Report 2023: Migrants, Refugees, and Societies’ is the title of the document.
The World Bank report said that “wealthy countries as well as an increasing number of middle-income countries, historically among the main sources of migration, face diminishing populations as a whole intensifying the global competition for employees and talent.”
And it continued, “Meanwhile, the majority of developing nations are expected to see rising populations, putting them on the hook to create more jobs for young people.”
Axel Trotsenburg, senior managing director of the World Bank, claimed that when migration is effectively handled, both the societies of origin and destination benefit.
According to the analysis, many nations would see a sharp decline in the proportion of working-age individuals in the ensuing decades.
It stressed that countries like Mexico, Thailand, Tunisia, and Turkey may soon require additional international labor because their populations are no longer growing. Spain, with an average population of 47 million, is projected to shrink by more than one-third by 2100, with those over 65 making up an increase from 20% to 39% of the population.
According to the research, in addition to this demographic transition, other factors were altering that were adding to the diversity and complexity of cross-border movements.
It stated that “today, destination and origin countries span all income levels, with many countries such as Mexico, Nigeria, and the U.K. both sending and receiving migrants,” and mentioned that the number of refugees had nearly tripled over the previous ten years. It also stated that climate change threatened to encourage even more migration.
The World Bank report also stated that 40% of the world’s population, or 3.5 billion people, live in areas that are highly sensitive to the effects of climate change. “So far, most climate-driven movements were within countries,” it said.
According to the analysis, existing strategies fail to fully utilize the potential development benefits of migration and significantly worsen the suffering of those migrating under duress.
“Roughly 2.5% of the world’s population—184 million people—now reside outside of their country of origin, including 37 million refugees. The majority (43%) reside in poor nations, according to the World Bank. “The report emphasizes how urgent better migration management is.”
