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A huge wave of emigration from Russia. These countries benefited the most

A huge wave of emigration from Russia.  These countries benefited the most

A huge wave of emigration from Russia. These countries benefited the most

The Russians fled the war to neighboring countries and brought millions of dollars with them. For these countries, the influx of easy money is a great success, but also a big problem, according to the independent Russian website Valzhnye Istori.

“It’s unbelievable, it hasn’t happened since 2013 – the market has boiled! Finally, life appeared in our dead forest. I don’t know who to kiss,” wrote one user of the Kazakh real estate portal at the end of September last year.

A huge wave of emigration

So many people didn’t leave Russia probably for about a hundred years. There are no exact estimates on this matter, but it can be assumed that between March and October last year, about 1.5 million inhabitants left Russia, of which at least 500,000 later did not return to their homeland – assesses the portal Ważnyje Istoria.

Especially a lot of Russians went to GeorgiaArmenia, KazakhstanUzbekistan and Kyrgyzstan. The migrants brought with them considerable sums of money and began to open bank accounts and set up businesses. As a result, taking into account statistics from 11 months of last year, GDP Armenia’s GDP increased by USD 2.3 billion, i.e. as much as 17 percent, while Georgia’s GDP increased by USD 1.3 billion, i.e. 7 percent. – we read further on the site.

The influx of Russian migrants is also reflected in the estimated GDP growth. The Central Bank of Armenia predicted in the spring of last year that it could amount to around 1.6 percent in 2022, and in October it revised its estimates to 13 percent. In Georgia, growth is expected at the level of 10 percent, and in Tajikistan – almost 8 percent. – note Important History.

As added in the study on the pages of the portal, last year Russian emigrants registered about 5,000 in Armenia. new companies, mainly from the IT industry. People who left for the countries of the former USSR are mostly well-off people with higher education, who are of great value to the small economies of the countries of the South Caucasus and Central Asia.

Currencies are gaining strength

As a result of new, unexpected circumstances, the currencies of Georgia, Armenia and Tajikistan are among the world’s top currencies that appreciate the fastest against the US dollar. In the case of the Armenian drama, this price increase amounted to as much as 22 percent. – reported Important History.

In addition to the benefits, however, the wave of migration also caused undesirable effects. The most serious problem is the significant increase in inflation, which currently stands at over 20%. in Kazakhstan and over 15 percent. in neighboring Kyrgyzstan. Increases in the prices of basic products, mainly food, hit people with the lowest incomes hard. In a situation where a wealthy person simply chooses something cheaper, a poor person will have to refuse to buy the most necessary things, the opposition media noted.

You also have to remember that people and their money can leave as soon as they arrived. Many migrants did not treat the South Caucasus or Central Asia as places of permanent residence. Some see these places as a stopover, preparing for the onward journey. If they find something more interesting, they will leave and take the money with them, Natalia Zubarevich, a professor at Moscow’s MGU university, warned, quoted by Wazhnye Istoria.

Main photo source: Davit Kachkachishvili/Anadolu Agency via Getty Images

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