UK NGO Predicts Refugees Will be 'Profitable' Over Five Years

According to a report issued on Wednesday by the UK-based non-government organization, refugees who arrived in Europe in 2015 could make a net contribution to the European economy in the first five years since their arrival equivalent to twice the amount spent on them.

MOSCOW (Sputnik) – Refugees who arrived in Europe in 2015 could make a net contribution to the European economy in the first five years since their arrival equivalent to twice the amount spent on them, a report issued on Wednesday by the UK-based non-government organization Tent Foundation claims.

"Investing one euro in welcoming refugees can yield nearly two euros in economic benefits within five years," Philippe Legrain, the author of the Refugees Work: A Humanitarian Investment That Yields Economic Dividends report and a former economic adviser to the president of the European Commission, said.

The report provides exact numbers calculated using International Monetary Fund estimates: the refugee influx will increase public debt by almost 69 billion euro ($77.7 billion) between 2015 and 2020, but the new arrivals could potentially help GDP grow by 126.6 billion euro during the same period.

According to the report, should refugees manage to gain employment immediately after they arrive in a country, this could help solve a range of economic problems, namely, create jobs, increase demand for goods and services, support public finances. Refugees could also become a solution for demographic issues in Europe as local populations are getting older.