Immigration is surging, with big economic consequences
The West faces an unprecedented number of new arrivals
The rich world is in the midst of an unprecedented migration boom. Last year 3.3m more people moved to America than left, almost four times typical levels in the 2010s. Canada took in 1.9m immigrants. Britain welcomed 1.2m people and Australia 740,000. In each country the number was greater than ever before. For Australia and Canada net migration is more than double pre-covid levels. In Britain the intake is 3.5 times that of 2019.
This article appeared in the Finance & economics section of the print edition under the headline “Thousands are flying”
Finance & economics May 4th 2024
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