> Refugees who arrived to Europe last year will have such a positive impact on the economy that they are projected to make the continent almost twice the money spent on accommodating them in only five years, a groundbreaking new study says.
>Many are worried in Europe about the economic impact of hosting a large number of refugees fleeing war, but the benefits will far outweigh the disadvantages, according to Philippe Legrain, a former economic adviser to the president of the European Commission.
>“Investing one euro in welcoming refugees can yield nearly two in economic benefits within five years,” says the international study by the NGO Tent Foundation, which was set up to help refugees and the displaced.
>“The main misconception is that refugees are a burden – and that’s a misconception shared even by people who are in favor of letting them in, who think they’re costly but it’s still the right thing to do,” Legrain told the Guardian. “But that’s incorrect. While of course the primary motivation to let in refugees is that they’re fleeing death, once they arrive they can contribute to the economy.”
>Refugees will not only create more jobs, they will spur demand for products and services, as well as fill job gaps and increasingly contribute to tax revenues in the long term. At the same time, they won’t contribute to unemployment for native inhabitants and are unlikely to lead to a lowering of wages, the study finds.
>Legrain, currently a fellow at the London School of Economics, estimates that while it is true refugees will increase public debt by almost €69 billion ($77.8 billion) in the 2015-2020 period, they will also more than double GDP to €126.6 billion.
>So, while a short-term strain on public finances will be felt, a short-term increase in economic demand will also be experienced, acting as a fiscal stimulus in EU countries where demand is otherwise low.
source:rt.com
ARE YOU FUCKING KIDDING ME?!
