PEOPLE displaced within their own borders could be costing the global economy nearly $13 billion a year, according to new research by the Internal Displacement Monitoring Centre.
Researchers assessed costs for eight countries experiencing conflicts or disasters, including Central African Republic (CAR), Libya, the Philippines, South Sudan, and Yemen. CAR was found to have the highest financial impact for each displaced person about $230 million, or 11% of the country’s GDP, per year.
The research found that the highest burdens come from lost income, support for housing, and healthcare. People in low-income countries were also impacted worse than those in lower-middle or upper-middle income countries. Internal displacement “places a heavy burden on the economy,” said Alexandra Bilak, director of the IDMC, “generating specific needs that must be paid for by those affected, their hosts, governments or aid providers.