Economic Impact

Definition

Economic impact refers to the effects that an event or situation has on the economy of an area or region. In the context of forced migration, it refers specifically to how the influx of migrants affects the economic conditions and systems of host countries.

Related terms

Labor Market: The supply and demand for workers in a particular area, including wages, job opportunities, and skill requirements.

Remittances: Money sent by migrants back to their home countries as financial support for their families or communities.

Brain Drain: The emigration or loss of highly skilled individuals from one country (usually developing) due to better opportunities elsewhere.