As competition for skilled workers continues to rise globally, while populations in rich and middle-income countries age, the World Bank says migration, popularly known as ‘japa’ in Nigeria, can be a powerful force for prosperity and development if managed properly.

This is contained in a new report from the World Bank, which also states that populations across the globe are ageing at an unprecedented pace, making many countries increasingly reliant on migration to realise their long-term growth potential.

The report is titled, ‘The World Development Report 2023: Migrants, Refugees, and Societies’.

“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,” stated the World Bank report.

It added, “Meanwhile, most low-income countries are expected to see rapid population growth, putting them under pressure to create more jobs for young people.”

The World Bank senior Managing Director, Axel Trotsenburg, said when migration is managed properly, it provides benefits for all people in origin and destination societies.

The report added that in the coming decades, the share of working-age adults would drop sharply in many countries.

It said Spain, with a population of 47 million, is projected to shrink by more than one-third by 2100, with those above age 65 increasing from 20 per cent to 39 per cent of the population, stressing that countries like Mexico, Thailand, Tunisia, and Türkiye may soon need more foreign workers because their population is no longer growing.

The report said that the forces driving migration were also changing beyond this demographic shift, making cross-border movements more diverse and complex.

“Today, destination and origin countries span all income levels, with many countries such as Mexico, Nigeria, and the U.K. both sending and receiving migrants,” it explained and mentioned the number of refugees nearly tripled over the last decade, adding that climate change threatened to fuel more migration.

“So far, most climate-driven movements were within countries, but about 40 per cent of the world’s population, that is 3.5 billion people, live in places highly exposed to climate impacts,” added the World Bank report.

The report said current approaches failed to maximise the potential development gains of migration and caused great suffering for people moving in distress.

“About 2.5 per cent of the world’s population (184 million people), including 37 million refugees, now live outside their country of nationality. The largest share (43 per cent) lives in developing countries,” World Bank said. “The report underscores the urgency of managing migration better.”

(NAN)