Every resident has to know what to do when a massive influx of refugees from any neighbouring country. Though the host country can successfully accommodate some refugees in camps especially built on sparsely populated land, other refugees settle on the urban areas.

There is a notable growth in the Gross Domestic Product and household incomes of the host country. This is mainly because of a refugee inflow. Refugees receive aid and get goods and services in places where previously no such consumption and related income.

The GDP will also increase in urban areas as the income and consumption grow further with the new population arrival. Remember that there is more money when refugees and aid workers are more. This is because of international aid and government spending.

Explore the economic revitalization

The economic revitalization through refugee labor can contribute to economic revitalization in all host countries in different methods. Some of them are filling labour shortages, increasing local consumption, creating jobs, facilitating the transition and local workers, and enriching local communities.

Refugees may have exceptional skills especially technical, trade, and culinary arts. These skills help a lot for improving the abilities of local labor force and can be shared to boost the economy of the country further.

The role of refugees as entrepreneurs and job creators gives remarkable benefits to the host country. This is because of several reasons like driving job creation, introducing new business practices, hiring other refugees and vulnerable locals, reinforcing the market-driven source of autonomy and resilience, and learning new skills.

Challenges faced by refugees as entrepreneurs

Refugees can face lots of challenges as entrepreneurs. Some of these challenges are exclusion and small social networks. Refugee entrepreneurs can experience maximum exclusion because of different societal factors. They have small social networks and such thing make it too difficult to find assistance while looking for help in setting up a business.

Entrepreneurship does not represent a method for all refugees to become self-reliant and make jobs for host communities. The overall activities of refugees as entrepreneurs contribute to host societies. This is because of bringing new business practices, know-how to local economies, and markets.

Are you thinking about how cultural diversity driving innovation in the workforce? The cultural diversity can successfully drive innovation in the workforce. This is done by challenging assumptions, encouraging creativity, improving the problem-solving, enhancing communication, understanding different needs, and developing & maximizing skillsets. The main benefits of cultural diversity in workplaces are increased productivity, reduced employee turnover, enhanced decision making, helpful language skills, and attracting & retaining the best talent.