The influx of skilled migrants into the UK will contribute a record £77bn to the UK economy by 2012.
The Future Flows research by global recruitment consultancy Harvey Nash estimated that 812,000 highly skilled migrants would be working in this country by 2012, an increase of 14% over the next four years.
The report said skilled migrants currently accounted for 2.5% of the country’s workforce and their spending in 2007 supported £8.4bn of the UK’s gross value added – the value of goods minus the costs of production and raw materials.
Harvey Nash chief executive Albert Ellis said: “Migration is vital to future economic stability, helping to fill the gaps created by older and under-skilled workforces.”
Core industries such as IT, telecommunications and transport are likely to benefit the most as the demand for e-commerce and software specialists increases.
Most of the skilled migrants will come from within the European Union, with London the destination of choice for most – approximately 365,000 workers are expected there by 2012.