Focuses on need for better policies to make migration a force for growth and prosperity

The World Bank has released its World Development Report 2023: Migrants, Refugees, and Societies.

The report focuses on the need for better policies to make migration a force for growth and prosperity, while presenting a framework to guide policymaking, which highlights that origin countries should actively manage migration for development. 

It further adds that destination countries should manage migration more strategically. The document highlights that international cooperation is essential to make migration a strong force for development.

Populations across the globe are aging at an unprecedented pace, making all countries increasingly reliant on migration to realize their long-term growth potential. 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. In addition, the number of refugees nearly tripled over the last decade and climate change threatens to fuel more migration.