Migration is often overshadowed by negative and sensationalized narratives. But let’s not forget that migration is an intrinsic part of human history, and part of the family histories of so many of us. And migrants have a huge potential to contribute to economic development. Some key facts and figures about migration, entrepreneurship and employment.
Whatever their reason for moving to new countries, migrants are determined to work hard and grab the opportunity to create better livelihoods for themselves and their children.
The World Migration Report 2024 by the International Organization for Migration (IOM) highlights that international migration remains a driver of human development and economic growth. And the 2024 edition of the International Migration Outlook by the Organisation for Economic Co-operation and Development (OECD) adds that immigrants significantly contribute to employment and entrepreneurship.
Here’s an overview of immigration and its economic contributions in numbers:
- International remittances – transfers from migrants to families and communities in their countries of origin – surged by 650%, from USD 128 billion to USD 831 billion between 2000 and 2022
- Migrant remittances surpass foreign direct investment, boosting the GDP of developing nations
- In 2022, a little more than 15% of all workers were immigrants on average across OECD countries
- 2023 saw historically high levels of employment and low levels of unemployment of immigrants in OECD countries, at 71.8% and 7.3%, respectively
- In 2022, 17% of the entrepreneurs in OECD countries on average were migrants, up from 11% in 2006
- Immigrants are over-represented among the founders of some of the most successful firms in the OECD
- Migrant entrepreneurship added almost 4 million jobs from 2011 to 2021
- As employees and entrepreneurs, immigrants contribute more in taxes and contributions than governments in receiving countries spend on their social protection, health and education
- Emigrants are often considered a loss for their country of origin but they can also play an important role in fostering trade and economic development, notably through the skills and contacts they have acquired abroad.
So, smart employers and policymakers stay away from negative messaging. Instead, they’d better take away barriers and facilitate migrant employment and entrepreneurship opportunities. If we unlock the enormous economic potential of migrant workers, they will benefit, and so will our economies.
Sources
International Organization for Migration (IOM): World Migration Report 2024
Organisation for Economic Co-operation and Development (OECD): International Migration Outlook, 2024 Edition
OECD: International Migration Outlook 2021: The fiscal impact of immigration in OECD countries since the mid‑2000s
Migration Summit: IMPACT REPORT 2024. Entrepreneurship as Empowerment: Unlocking the Potential of Migrant Innovators
