The plight of refugees captured the world’s attention last year as over a million arrived in Europe, fleeing conflict and violence in Syria, Iraq and beyond. Reactions from European countries and elsewhere varied, from sympathetic and welcoming to hostile and fearful.

In the Global Risks Report 2016, large-scale, involuntary migration is identified as the global risk of highest concern for the next 18 months. Amongst all the risks, it is ranked fourth in terms of the scale of impact, with a range of political, social, economic and security risks, both to refugees and the countries in which they seek asylum.

It is however important to look not just at the risks refugees might pose for the economies and societies of host countries, but also at the potential benefits they can bring. Evidence shows that, if refugees are given sufficient support and investment, they can make significant social and economic contributions to their host countries. Countries can become better able to cope with mass refugee flows by nurturing refugees’ economic contribution and supporting their integration into host societies.