Individuals across the globe, especially in developed countries, are aging at an unprecedented pace, making many countries increasingly reliant on migration to realise their long-term growth potential, says a new report from the World Bank.
The ‘World Development Report 2023: Migrants, Refugees and Societies’ identifies this trend as a unique opportunity to make migration work better for economies and people.
Conversely, Nigeria, Ghana and other developing countries that have rising youthful populations are set to benefit from the global aging population as young persons would take advantage of the migration to emigrate to developed countries.
The report said 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 talents.
Meanwhile, most low-income countries…
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