The Economic Impact of the European Refugee Crisis
The EC says 3 million people could arrive in Europe by the end of 2017, and add about 0.25 percent to the bloc's GDP. Refugees at Athens International Airport board an aircraft headed for Luxembourg on Wednesday. Andrea Bonetti / Greek Prime Minister's Office / AP KRISHNADEV CALAMUR NOV 5, 2015 Three million refugees and migrants could arrive in Europe by the end of 2017, the European Commission says in its economic forecast for the fall of 2015 . The report says the newcomers will have a “relatively small” economic impact in the medium term, with GDP rising between 0.2 percent and 0.3 percent above the baseline by 2020. But, the EC notes, that could vary by country—with destination countries—such as Germany—seeing a more significant impact than transit countries. Here’s more: The impact from higher public spending and a larger labour force with a skillset similar to the existing one in the EU is e...