Immigration remains a sensitive issue in many states that seek to tighten controls while acknowledging their dependence on foreign workers Despite tougher reforms in global powerhouses, immigration remains a vital driver of growth. That’s the conclusion of the Organization for Economic Co-operation and Development’s (OECD) latest report on the subject. Let’s analyze it.
The OECD’s Economic Outlook 2024 report is cautious but highlights a return to growth. Although modest, growth remains stable: +3.1% in 2023.
The same figure is expected for this year. The OECD forecasts a slight increase in global GDP in 2025 (3.2%).
These figures are considered relatively high given geopolitical conditions. The report highlights significant “migration flows” in several OECD countries in 2023. This was notably the case in Australia, Canada (both countries have since taken steps to restrict the number of new immigrants), the United States, Spain and the United Kingdom.
Despite Brexit and a series of measures to tighten immigration conditions, the UK continues to attract foreign workers. Immigration remains a sensitive issue in many states that seek to tighten controls while acknowledging their dependence on foreign workers. The OECD report notes the direct impact of these workers on growth.
In the UK, foreign labor contributed just over 1 percentage point of growth. It is +1.5 points for Australia, Canada, Spain and Sweden (despite Sweden’s stricter immigration policy).
The figur.
