A new World Bank report indicates populations throughout the world are aging at an unprecedented rate, leaving many nations increasingly reliant on migration to meet their long-term economic potential

According to a new World Bank analysis, populations throughout the world are aging at an unprecedented rate, leaving many nations increasingly reliant on migration to meet their long-term economic potential.This development is seen as a great chance to make migration function better for economies and people in the World Development Report 2023: Migrants, Refugees, and Societies.
 
Wealthy nations, as well as an increasing number of middle-income countries, which have historically been major providers of migrants, are experiencing population declines, heightening global competition for labor and talent. Meanwhile, most low-income nations are anticipated to see significant population expansion, placing pressure on them to produce more jobs for youth.
 
According to the World Bank's senior managing director, migration can be a tremendous engine for wealth and progress when properly managed, and it helps all people - both in origin and destination communities.
 
In many nations, the proportion of working-age individuals will fall dramatically in the future decades. With a population of 47 million, Spain is expected to drop by more than one-third by 2100, with those over the age of 65 growing from 20 to 39 percent of the population.