Fiscal impact refers to the effect of a policy, project, or event on the financial condition of a government entity, encompassing both revenues and expenditures. It is a critical tool for assessing the sustainability and feasibility of public initiatives, ensuring that decisions are made with a clear understanding of their financial implications.
Immigration can significantly influence a country's economy by contributing to labor market dynamics, innovation, and demographic changes, often leading to increased economic growth and productivity. However, it can also pose challenges such as wage suppression for low-skilled workers and increased demand on public services, necessitating balanced policy approaches to maximize benefits and mitigate drawbacks.
Migration can significantly influence both the source and destination countries' economies by altering labor markets, affecting public resources, and driving innovation. While it can lead to economic growth and cultural enrichment, it also poses challenges such as integration and potential strain on public services.