Immigration adds to economic growth

Immigration adds to economic growthImmigration has always contributed towards the demographic growth of a country. Embracing and providing a flexible immigration system can dramatically improve the economic conditions of a country. It is well known that it has always taken a form of a formidable engine of economic growth in a country. For several decades  immigrants have contributed substantially by providing labor for the industrialization and development of a country.

The latest IMF analysis has revealed that for every one percent increase in migration, the nation witnesses a miraculous increase of its economic growth by two percent for a long term. The reason behind the prosperity is that high-skilled immigrants can skillfully host the economic growth, while the rest low skilled ones could increase the productivity growth. The immigrants can provide a sense of relief to the aged population as well. Immigrants automatically boost the economic efficiency by bringing down the  labor shortages. They efficiently fill gaps in the native-born labor market due to their educational backgrounds which add to the prosperity to a country.

A potential immigration policy that is focused on raising economic growth would concentrate on ways to accommodate more immigrants with an advanced educational qualification. Economists Madeline Zavodny and Pia Orrenius suggested a helpful approach for the growth of legal immigration. The approach targets the auction to permit the employers with demand based on minimum prices. This could increase public revenues to a greater extent while creating a market for permits. It guarantees that immigrants would arrive with employment. For specific skill sets, differing prices could be charged for workers.

The fact is clear that immigration can be beneficial for migrants as well as the country, but only if their rights are secured. For both countries of origin as well as  host countries it can  be economically prosperous. Immigration not only brings social and cultural diversities together but also has a greater contribution towards increasing the global economical status.

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