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ISLAMABAD: Competition for workers is now rising as populations are aging at an unprecedented pace in rich and middle-income countries making these countries increasingly reliant on migration to realise their long-term growth potential, according to the World Development Report 2023, released by the World Bank on Wednesday.
The report, titled ‘World Development Report 2023: Migrants, Refugees, and Societies’, identifies this trend as a unique opportunity to make migration work better for economies and people. Wealthy countries as well as a growing number of middle-income countries — traditionally among the main sources of migrants — face diminishing populations, intensifying the global competition for workers and talent. Meanwhile, most low-income countries are expected to see rapid population growth, putting them under pressure to create more jobs for young people, the report says.
A central message arising from the report is that migration needs to be managed strategically by both countries of origin and countries of destination if it is to produce its full development gains. Global imbalances, local shocks and societies’ evolving needs will continue to generate cross-border movements.
Yet the way in which migration is currently managed is failing many migrants and nationals, causing immense suffering from tens of millions, polarising politics, and creating large inefficiencies and economic losses across both destination and origin countries, the report points out.
The challenge is to manage cross-border movements in a way that benefits migrants and refugees, as well as origin and destination societies. The ultimate objective is threefold: to maximise the gains for both migrants and their societies of origin and destination when migrants’ skills and attributes strongly match the needs of the destination society; to manage refugee situations in a sustainable manner, with a view to medium-term development effects on both refugees and host communities and adequate responsibility-sharing within the international community; and to respond to distressed migration humanely and over time to reduce the need for such movements.