Venezuelan media outlet El Pitazo published a note compiling studies that say the Venezuelan diaspora in South America has brought about an economic boost in the countries where migrants arrive, despite the different positions on the issue. To date, there are already around 8 million Venezuelan migrants who have left the country due to the social, political and economic crisis that the country is experiencing, and since it is a predominantly young population and they abandon their studies despite having professional training, they are rooted where they arrive and generate their own and social benefits.
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Venezuelan migration: Which studies report on the economic recovery in South America?
The United Nations High Commissioner for Refugees – UNHCR supports the said study Socioeconomic integration of forcibly displaced populations in Latin America and the Caribbean in which “examines the specific characteristics of the socioeconomic integration of forcibly displaced populations living in the Latin American member countries of the OECD, namely Chile, Colombia, Costa Rica and Mexico, as well as in Ecuador and Peru. The selection of these countries reflects the significant proportion of forcibly displaced populations in each of them and the ability to identify populations of interest based on nationality in the available national household surveys.”
In addition, the World Bank supports the said study “Venezuelans in Chile, Colombia, Ecuador and Peru: an opportunity for development”. One of the fundamentals of these analyzes is this “Refugees and migrants fill important gaps in local labor markets and increase demand for goods and services, which can lead to increased tax revenues and an increase in the gross domestic product of host countries.”
Petro recently announced free universities for Venezuelans. Photo: Photo: Composition LR/AFP
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What is the World Bank?
According to the information posted on their website, the “The World Bank is a unique global partnership: its five member institutions work to reduce poverty and create shared prosperity in developing countries.” and is responsible for the work “in all key development areas: providing a wide range of financial products and technical assistance, and helping countries address challenges through the exchange of cutting-edge knowledge and the application of innovative solutions.”
Furthermore, their calculations suggest that South America will see 2% growth by 2024, considering Venezuelans occupying jobs that are not in demand by locals.
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