Hundreds of thousands of people fled Russia after it invaded Ukraine — and now the countries that took them in are seeing a boost in their economies
Turkey, asaw its economy grow 5.6% in 2022, outpacing a forecast of 4.7%, per the World Bank data.
Oleg Itskhoki, an economics professor at the University of California, told Novaya Gazeta that the GDP performance in such countries demonstrates that the newly arrived Russians had savings and were wealthier than the local residents. But to be sure, immigration hasn't only had a positive impact on the economies. The influx of Russians also contributed to a rise in inflation, such as a jump in hotel rates and rents in Kazakhstan and Georgia,Sign up for notifications from Insider! Stay up to date with what you want to know.
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