The Power of Immigration: How Immigrants are Boosting the Global Economy and Society

Immigrants are an essential part of society, and without them, our world would be a vastly different place. From economic contributions to cultural enrichment, immigrants have a significant impact on every aspect of life. 

We’ve seen firsthand how immigrants are driving innovation and growth across industries. We’ll explore the many benefits of immigration and why we should be celebrating it, not demonizing it.

First, it’s important to understand the sheer number of immigrants in the world. According to the United Nations, there are over 272 million international migrants, which amounts to roughly 3.5% of the global population. These individuals are spread out across the world, contributing to local economies and communities in myriad ways.

Let’s start with the economic impact. 

Immigrants are entrepreneurs, creators, and workers, and they’re powering economic growth around the world. In the tech industry, for example, immigrants are a driving force, starting companies and innovating in ways that benefit everyone.

From Elon Musk to Sergey Brin, many of the biggest names in tech are immigrants or the children of immigrants. And they’re not alone – immigrants across industries are creating jobs, contributing to GDP, and fueling innovation.

But it’s not just about the economic impact. They also bring cultural diversity and richness to our society. 

Immigrants share their cultures, languages, and traditions, adding to the vibrancy of communities around the world. The food too, and a whole lot more are wonderful things brought in by them. 

This cultural exchange leads to new ideas, new perspectives, and a more open-minded and accepting society.

But perhaps the most important reason to value immigrants is the empathy and understanding they bring. These people often leave behind their homes and families to start anew in a foreign land. They face significant challenges and barriers, from language barriers to discrimination. By welcoming them, we show that we value their contributions and are willing to support them in their journey. This empathy and understanding create a stronger and more inclusive society, benefiting everyone.

For immigrants throughout the world, fintech is already having a positive impact. The process of sending money back home to support one’s family is made simpler for immigrants by remittance apps and services. Immigration-related financial development and resource access are made possible by digital banking technologies and credit scores.

In short, the power of immigration cannot be overstated. It’s time to recognize the many benefits that immigrants bring to society and to celebrate their contributions. By doing so, we create a world that is more innovative, diverse, and welcoming for everyone.

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