refugees may end up boosting european economies
Last Updated : GMT 08:31:29
Arab Today, arab today
Arab Today, arab today

Refugees 'may end up boosting European economies'

Arab Today, arab today

Arab Today, arab today Refugees 'may end up boosting European economies'

Migrants and refugees look out the window
Paris - AFP

European nations overwhelmed by the biggest refugee crisis since World War II may end up boosting their economies if they just let the migrants in, analysts say.

More than 430,000 people have crossed the Mediterranean to Europe so far this year. Nearly 2,750 have died, and more arrive every day, many fleeing war zones in Syria and Afghanistan.

The challenge has left the European Union scrambling for answers, with member nations disagreeing Monday over a proposal to share out 120,000 refugees and ease the burden on frontline states.

But beyond the immediate logistical challenges and predominant humanitarian concerns, the economic impact of the tide of refugees moving to Europe is slight, and may well be positive, analysts say.

Welcoming refugees offers Europe the chance "not only to honour its position as a democratic Union that is wealthy and respectful of tradition, but also to expand its growth prospects," Patrick Artus, economist at French investment bank Natixis, said in a recent report.

Holger Schmieding, economist at the German investment bank Berenberg, estimated that the arrival of refugees could boost economic output in the eurozone by 0.2 percent as of the second half of 2015.

Migrants play an important role in economic expansion and in periods of decline, said historian Nancy Green, researcher at the School for Advanced Studies in the Social Sciences in Paris.

New arrivals often work in sectors where conditions are viewed as unsatisfactory for native-born workers, she said, citing the clothing and steel industries of the 19th and 20th centuries and the services industries of today.

"Our continent could and should become a great land for immigration in the 21st century," influential French economist Thomas Piketty wrote in a recent column in the French daily Liberation.

The costs to national budgets are minimal, too, according to a report issued last year by the club of advanced economies, the Organisation for Economic Cooperation and Development.

- 'Impact close to zero' -

"The impact of the cumulative waves of migration that arrived over the past 50 years in OECD countries is on average close to zero," it said, citing new studies showing that the cost or benefit to the public purse rarely exceeds 0.5 percent of total economic output.

"Welcoming refugees is a humanitarian decision, it can never be an economic decision," stressed Jean-Christophe Dumont, specialist in migration at the OECD. "It has a cost over several years and it is not major," he added.

People fleeing war have not prepared their migration nor chosen their destination, Dumont said.

"They have gone through a traumatic situation, they need time to recover. We cannot expect them to start answering job advertisements when they get off the bus," the analyst said.

Refugees arriving in Europe would need five or six years to match the employment level of migrants who enter to join families already resident in their host nations, and 15 years to match that of the native-born workforce, he said.

Refugees, like other migrants, do not aim to be dependant on welfare, Dumont added. "They want to rebuild, to have a better life for their children, to work," he said.   

Economic studies show that the impact of migration is minor, both on the labour market and public finances, according to El Mouhoub Mouhoud, economics analyst at the Paris Dauphine University.

"It is not the same thing for a country like Lebanon which in the space of a few years admitted the equivalent of one quarter of its population," Mouhoud said.

The new arrivals are increasingly well qualified because the poorest lack the means to leave, he added.

"When we say we cannot take in the destitute of the world, we are wrong. It is not the destitute who we are taking in despite appearances," the analyst said.

Marcel Fratzscher, head of the German economic research institute DIW said the refugees should not be seen as a financial burden. "The refugees are an investment, it is not money lost."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

refugees may end up boosting european economies refugees may end up boosting european economies

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

refugees may end up boosting european economies refugees may end up boosting european economies

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday