World Bank says better management needed to handle migration explosion

The World Bank on Tuesday said that global migration trends are expected to increase as the population of wealthy and middle-income countries continues to age rapidly, causing them to depend on migration. However, the process needs to be managed better, the global institution said. 

According to the World Bank’s latest World Development Report, about 184 million people around the world—2.3 percent of the world’s population—live in a country outside of their nationality. About 37 million of these individuals are refugees. 

“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 for prosperity,” the report says.  

To prepare for the large number of migrants that are expected in coming years, the report suggests recommendations for policymakers to help meet the needs of the migrants, and reduce the need for distressed movements.

In particular, the World Bank suggests that destination countries try to match migrant skills with their needs and demands. According to the bank, the costs of hosting migrants increase and policy challenges arise when the skill match does not match. 

In order to ensure that skill match, the bank said, origin countries should make labor migration part of their development strategy. They should lower the costs of receiving remittances, which could help build skills that are in global demand, and facilitate knowledge transfers from their diaspora. 

“Migration can be a powerful force for prosperity and development,” said World Bank Senior Managing Director Axel van Trotsenburg. “When it is managed properly, it provides benefits for all people — in origin and destination societies.”