Page 91 - World Development News Today

The World Development Report 2023: Migrants, Refugees, and Societies, identifies this trend as an 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 creat...

Migration is a development challenge. About 184 million people—2.3 percent of the world’s population—live outside of their country of nationality. Almost half of them are in low- and middle-income countries. But what lies ahead? As the world struggles to cope with global economic imbalances, diverging demographic trends, and climate change, migration will become a necessity in the decades to come for countries at all levels of income. If managed well, migration can be a force f...

The World Bank urges policymakers to better match migrants' skills with needs in destination countries, while protecting refugees and reducing the need for distressed movements

The gains are estimated to be much higher for highly skilled workers like doctors or tech workers migrating to Silicon Valley. Even low-skilled workers experience multi-fold jumps. On the other hand, those migrating to the Gulf Cooperation Council (GCC) nations, comprising Saudi Arabia, Bahrain, Oman, Qatar, Kuwait and UAE, stand to gain less., Business News, Times Now

WB said destination countries should encourage migrants having skills matching the country needs

Speaking on measures that will help Nigeria and ‘Origin Countries’  enhance economic benefits of migration, the World Bank said: “They should lower remittance costs, facilitate knowledge transfers from their diaspora, build skills in high demand globally, mitigate the adverse effects of “brain drain,” protect their nationals while abroad, and support them upon return.

According to a study by the World Development Report, Indians working overseas have seen a surge in their income of around

Competition for workers rising as populations age in rich and middle-income countries

Populations across the world are aging at an unprecedented pace that many countries rely on migration to realise growth potential

Nigerians migrate to Canada, the United States, and other European countries to seek opportunities