Pablo Soria de Lachica – Optimistic that Germany will Benefit from Taking in Syrian Refugees

Pablo Soria de Lachica - Optimistic that Germany will Benefit from Taking in Syrian Refugees
Pablo Soria de Lachica - Optimistic that Germany will Benefit from Taking in Syrian Refugees
Pablo Soria de Lachica - Optimistic that Germany will Benefit from Taking in Syrian Refugees

Pablo Soria de Lachica – Optimistic that Germany will Benefit from Taking in Syrian Refugees

MEXICO CITY, MEXICO – In the past few months, hundreds of thousands of migrants from countries such as Syria, Afghanistan, and Eritrea have flooded into European countries seeking asylum. At about 50%, Syrians make up the overwhelming majority and thus have been impacted the most by many European countries’ reluctance to grant them refugee status. However, authorities in business and economics like Pablo Soria de Lachica are pointing out the benefits these countries will experience by taking these refugees: “I believe that Germany’s willingness to grant asylum to a record 800,000 refugees in 2015 alone will result in an economic windfall for the country,” the trading specialist assesses the current development.

While some of Europe’s resistance has been attributed to cultural concerns, a large portion has been identified as citizens’ and governments’ fears that refugees will be an economic burden at a time when the world is recovering from one of the worst economic downturns in history. However, recent studies conclude that the opposite is true, and refugees can be instrumental in giving economies a much-needed boost. “Naturally, accepting stricken individuals from a war-torn region is the morally right thing to do,” Soria de Lachica says, “but it is important to understand that it’s also a fiscally sound decision.” Reports have shown that migrants generally pay more in taxes and social contributions than they receive, so Germany is indeed likely to see considerable additional income due to its growing refugee population.

Another argument often proffered by those against accepting refugees is a perceived negative effect on the job market. These fears are unfounded though, says Pablo Soria de Lachica: “Data has shown that legal immigrants entering the workforce create economic growth and stimulate job creation, including higher-tier positions for natives due to their language and educational advantages,” he noted. His argument is backed by World Bank report, which indicates that the migration of workers from poorer to richer countries has the effect of considerably raising wages.

It is safe to assume that German Chancellor Merkel was well aware of those advantages when she opened the borders to Syrian refugees, but for her country the additional workforce is much more than that: Germany’s population has aged significantly in recent years, with 200,000 more deaths than births in 2012, which means, in other words, that the country is starting to run out of employable people. “Refugees perfectly compensate for shortages of younger workers today, and migrants will provide much-needed augmentation in the years to come,” Soria de Lachica explains. Especially skilled vocations such as engineers, programmers, and technicians are in dire need of personnel, currently falling 140,000 short. “Here again is where Syrian asylum seekers are a godsend to the German economy,” he continues. “Many of them are young, well-educated, and qualified. The only obstacle they face is learning the language, which is a comparable minor problem. With their entry into the workforce, Germany’s skilled sectors will receive a ready-made employee source.”

Internationally acclaimed broker and investment authority, Pablo Soria de Lachica, is a recognized expert in foreign exchange transactions and Director of Business Development at foreign exchange brokerage firm Kartoshka. In addition to tailoring investments to his clients’ needs through an impressive range of available trading options, Soria de Lachica has authored a number of instructional texts on basic and advanced investment principles and offers a popular series of informative webinars.

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About the Author

Pablo Soria de Lachica
Pablo Soria de Lachica is an internationally acclaimed broker and Director of Business Development of Bforex, a renowned currency trading firm based in Panama City, with 18 offices spanning the globe, including locations in Brazil, Mexico, and Uruguay.