Immigration is crucial for the future of Europe, according to recent reports by prominent economists. Rolf Strauch emphasized the necessity of more immigration to counteract the aging population. Mario Draghi also highlighted the population decline in the EU compared to the US, which continues to grow due to significant migration.
The US has experienced a notable population increase from immigration, while Europe faces the challenge of minimal growth and an aging population. This demographic crisis puts pressure on public finances and increases demand for spending, posing risks for banks and the economy.
To address these challenges, Europe must focus on increasing workforce participation through strategies like raising the retirement age, promoting women’s employment, and integrating immigrants efficiently. By stating clear expectations for immigrants to adhere to European norms and laws, the continent can boost its workforce and compete globally.
As the US and China continue to grow, Europe must take decisive action to secure its economic future through smart immigration policies and workforce development.