This is not a typical post for this website, it has (on the surface) nothing much to do with Financial Markets and Financial Institutions.<\/p>\n
It is, however, an important element to take into account when analysing the economic future of many countries, whether those are countries from which people are fleeing or being displaced, or destination and safe-haven countries.<\/p>\n
People migrations are influenced or triggered by environmental changes, but they will also in turn have a bearing on environmental transformations (see chapter 9).<\/p>\n
Impacts on geopolitics, and subsequently on credit risks, cannot be underestimated, as we saw with the Belarus \/ Poland (or EU) border issue recently.<\/p>\n
A couple of numbers highlight the scale of migrations:<\/p>\n
– in 2020, international migrants represented 281M people or 3.6% of the world population – at this rate, the whole world population would migrate over a generation!<\/p>\n
– nearly 90M people live in displacement and are not settled in = refugees, asylum seekers, internally displaced people.<\/p>\n
– remittances account for more than $700 Billion per annum,<\/p>\n
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