Policy considerations to harness international migration for sustainable development in the Caribbean. Policy Brief

The Caribbean is undergoing a demographic transition with declining birth rates and increasing life expectancy. From 2000 to 2020, the population grew from 39 million to 44 million, with an annual growth rate of 0.64%, lower than the Latin American and Caribbean average of 1.29%. Life expectancy rose from 67.4 to 70.8 years for males and 72.6 to 76.2 years for females, and under-5 mortality decreased from 47 to 35 per 10,000 births. The ageing population, driven by these dynamics and the substantial emigration of the working-age population, saw the median age rise from 24 to 31 years and is projected to reach 33 years by 2050, with those over 50 comprising a quarter of the population (UN-DESA, 2022). This demographic transition towards an ageing population mirrors more of what is expected of advanced economies rather than the developing countries of the Caribbean. An ageing population produces many ramifications for economic development as it negatively affects labour productivity and strains pension systems. Managing the demographic transition necessitates policies that help promote the economic growth needed to sustain pension, healthcare, and elderly care systems. Policies harnessing the benefits of international migration constitute a critical pillar of the population policies available to Caribbean governments to manage the demographic transition and assure sustainable development.