The World Bank's latest economic report on the Western Balkans reveals that one in four people from the region currently live abroad. While emigration poses challenges, like labor shortages, it also presents economic opportunities for the countries of origin if managed effectively. According to the report, emigration can help reduce poverty, boost exports, and attract investments, which in turn supports job creation and knowledge transfer.
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The report highlights that remittances provide financial resources for migrants' families, and the return of skilled individuals brings a “brain gain” back to their home countries. Economic growth in the Western Balkans is projected to reach 3.3% in 2024, driven by increased consumer spending and investment, although export growth remains limited due to weakened demand from European trade partners.
In the labor market, employment hit a new high of 48.5% in 2024, although it still lags behind the EU average.