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The Refugee Surge in Europe

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The Refugee Surge in Europe

Economic Challenges

IMF,

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With the right guidance, the wave of immigration into Europe could morph from a crisis into an opportunity.

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8

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Recommendation

With the right guidance, the current wave of immigration into the European Union could morph from a crisis into an opportunity. That’s according to International Monetary Fund economists in this timely look at the actual and potential economic impacts – both good and bad – of refugees on EU countries. Clearly, the immediate humanitarian disaster poses great challenges, but the ongoing assimilation of new workers and taxpayers into an aging Europe could beget decidedly positive outcomes for both natives and migrants. getAbstract recommends this thought-provoking analysis to executives, economists and policy makers.

Summary

Europe is in the midst of an immigration crisis, as refugees – from Syria, Iraq, Afghanistan, Pakistan, the Balkans and beyond – flock to the European Union in record numbers. In the first 10 months of 2015, EU countries received 995,000 applications from first-time asylum seekers, more than double the number in the same period in 2014. Germany, Sweden and Hungary have seen the biggest jump in arrivals, while Greece and Italy have served as major entry points for refugees. Turkey alone has taken in some two million Syrians since March 2011, spending about 1% of its GDP to care for them.

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About the Authors

Shekhar Aiyar et al. are affiliated with the International Monetary Fund.

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