The financial impact of Syrian refugees is extremely large for many countries. In all, there are 13.5 million Syrians requesting assistance with 4.8 million displaced outside of Syria during the civil war that has raged since 2011.
The vast majority of those refugees are in Turkey. According to the IUS Preface, the European Union has pledged over $1 billion dollars to Turkey to support these people. In making this pledge, Greece says that it will begin sending back any refugees that end up on its shores from Turkey. In return for each refugee returned, the European Union has pledged to take in one refugee that has made a legitimate request. The country has taken in over 2 million refugees at a cost of more than $6 billion annually. This has a huge impact on the country where the gross domestic product is only $799.53 billion. The costs only continue to escalate.
Turkey is not the only country that is struggling with the economic impact of the Syrian refugees. Compounding the problem, many of these refugees are falling into slavery and exploitation with an estimated 60 to 75 percent of Syrian children are working selling flowers and picking figs despite the fact that some are only five years old. Additionally, many young Syrian women are being sold to older Syrian men without their consent. The cost of the Syrian refugees in Lebanon is $7.5 billion in cumulative economic losses cutting the country’s gross domestic product by 2.8 percent and raising the unemployment rate to over 20 percent.
While many in the United States continue to close their eyes to this continuing problem, Martin Lustgarten says that those interested in global investments must take this cost into consideration before making investment decisions. Martin has over 30 years of experience studying these conditions globally.
Additionally, Martin’s contacts around the world keep him informed on government decisions before they are leaked to the media. This allows him to keep his clients updated on changing positions where news can not only change daily but also where it can make a huge impact on investing.
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