International Migration and Economic Development: Lessons from Low-Income Countries

Unlock the Power of International Migration for Economic Growth International migration is a potent force for economic development in low-income countries. By sending remittances and transferring skills, migrants significantly boost the economies of their home countries. However, restrictive migration policies can lead to more perilous routes and lost benefits, highlighting the need for safe and regular migration pathways. Research from the International Organization for Migration (IOM) and other leading institutions reveals that restricting these pathways does not stop migration, but instead drives it into more irregular and dangerous routes, increasing risks for migrants. In contrast, safe and regular migration can support economic growth and development worldwide, with substantial positive impacts on migrants, their families, and their origin communities. Studies also show that the income gains from migration dwarf the impacts of virtually any other economic development intervention, benefiting origin countries through multiple channels, including remittances, knowledge transfer, and diaspora networks. By understanding the complex relationships between migration, economic growth, and development, policymakers can create more effective strategies to support economic development in low-income countries.

• Product Type: BOOK
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