Unprecedented Migration Booms Sweep Across North America and Europe, With Implications for Economy and Society

America, Canada, Britain and Australia are currently experiencing an unprecedented migration boom. Last year, America saw 3.3 million more people moving in than leaving, which is almost four times higher than typical levels in the past decade. Canada welcomed 1.9 million immigrants, Britain received 1.2 million and Australia saw 740,000 new arrivals. These numbers are all record-breaking for each country, with Australia and Canada experiencing more than double their pre-covid levels of net migration and Britain seeing an intake that is 3.5 times higher than in 2019.

The large movements of people have significant economic consequences, with the foreign-born labor force in America growing by 9% since the start of 2019 and around a fifth in Britain, Canada and the euro zone. The surge in immigration to America is expected to make its economy 2% larger over the next decade than previously forecasted, contributing to the country’s strong economic growth. However, the impact of immigration goes beyond just GDP, influencing factors like inflation, living standards and government budgets. An important aspect of the recent wave of immigrants is that a larger proportion of them are low-skilled compared to previous arrivals.