World Finance

World Finance

October 30, 2015 12:00 ET

World Finance Looks at the Financial Benefits of Immigration

LONDON, ENGLAND--(Marketwired - Oct. 30, 2015) - As Europe grapples with an unprecedented humanitarian crisis, World Finance argues that extending the welcome hand of asylum is not just morally correct, but economically beneficial. A new World Finance report takes a look at the financial benefits of immigration, and how misinformation on the matter is obscuring the economic opportunities.

The World Finance report finds that immigrants are often considered a burden on host states, though there is little in the way of evidence to support this claim. "These arguments are often advanced without recourse to evidence," said Professor Alexander Betts, Director of the Refugee Studies Centre at Oxford University. "Indeed, few economists have worked on refugees and forced migration, and governments do not have disaggregated immigration data that can show the economic impact of hosting refugees."

According to World Finance, the research suggests that the costs and benefits associated with a situation much like that in Europe at the moment is dependent on who the immigrants are, and how they're facilitated – or not – by host nations. Albert Einstein, Sigmund Freud, Peter Drucker and many, many others were once immigrants, and the world would arguably not be as it is today without their contributions.

Only with less labour market restrictions and more learning opportunities will host nations realise the economic potential of immigrants in full, and doubters should look to the examples of Miami and Denmark for proof it can work. As Betts puts it: "Europe should primarily be welcoming refugees because it is a humanitarian and ethical imperative, but it is also in our economic self-interest."

To read the report on immigration across Europe in full, pick up the new issue of World Finance, available in print and online now.

http://www.worldfinance.com

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Contact Information

  • For further media information contact:
    World Finance
    Matthew Timms
    Editorial Department
    +44 (0)20 7553 4177
    matthew.timms@wnmedia.com