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International movement of refugees calls more and more economic effects into existance. Although back in 2014 their number was only 8% of the total number of migrants in the world, the intensification of armed conflicts in the world dramatically increases the importance of this category of workers in the total international migration composition. Forced migration flows generate significant negative political and economic consequences for the world as a whole. In addition, given the localisation of large masses of refugees in several countries and regions an applied research of economic benefits of migration of refugees in the key regions of their destination becomes particularly crucial [Dadush, 2016].

The movement of refugees from Syria, Iraq, Afghanistan, Somalia and other countries caused by a military conflict is the crisis of international scope that not only causes political instability but also is a factor that may lead to the collapse of the existing visa regime within the Schengen area, due to the abrupt immigration burden on host countries in Europe and the inability to find an appropriate solution at the supranational EU level [Dadush, 2016].

Forced migrants tend to come to those regions where there are no significant employment opportunities. Particularly this challenge is especially pressing for the poorest countries or regions that accept refugees, while the richer regions, with some exceptions, have rather low ratio of refugees to the total population. It is the poorest regions where the impact of the influx of refugees on reduction the salaries of the local population, in particular of unskilled workers, is particularly potent [Dadush, 2016].

The assumption that receiving a large number of migrants by developed countries may cause unemployment or reduce wages or leads to a significant increase in the cost of public finances due to the rise in social payments is largely unconfirmed [Dadush, 2016; Muysken, 2013]. In most cases, the arrival of significant number of young motivated workforce into developed countries will lead to a proportional increase in investment and, consequently, the level of production and may even have positive long-term effects on GDP growth of host countries and their economic development [Boubtane, 2014]. That being the case, the global benefits of directing forced migrants to the South is much lower compared to their settlements in the North, and excessive flows of refugees to certain regions of the South lead to net economic losses of the region [Dadush, 2016].

Forced migration being poorly guided, as it is an intrinsic feature of today's stage, creates significant negative externalities to neighbouring regions and the world at large. There is a sizeable difference between forced and voluntary migration for their economic and political consequences. Under a voluntary migration a migrant’s goal for movement is, in most cases, either of economic nature or it manifests itself in the form of international labour migration, or is determined by the need to have a family reunification [16]. Thus, while a voluntary migrant independently chooses the time and place of migration, a refugee under a forced migration is deprived of such opportunity and, quite often, is sent to the nearest available safe area. Such migrants may lose all their available assets, or they may end up where employment opportunities are either rare or unavailable altogether. In addition, unlike under voluntary migration, forced migrants rarely have the option to return home. Adaptation of refugees to a new location may take longer and require more support from the host community, which ultimately puts additional economic challenges to the effective inclusion of forced migrants into economic realities of the host country or region that are much greater compared to those faced under a voluntary migration [Dadush, 2016].

In terms of economic prospects, the difference between forced and voluntary migration should disappear over time. Finding work is a necessity of life for the vast majority of refugees, at that, in order to settle or find work these workers may go beyond the country of their first arrival and move to countries or regions more favourable for them. Such behaviour makes the motives and characteristics of forced migrants to the maximum extent close to the same steps and motivation of international labour migrants, thus the same tools may be used to analyse the economic effects of forced migration as in the case of voluntary migration [Dadush, 2016].

However, there are four unique cases that are specific to forced migration. They may be grouped as ones of a predominantly short-term nature - primarily it is a mismatch between market supply and demand for specific labour skills as well as an economic impact of the arrival of large numbers of refugees to the first host country. The long-term forced migration challenges include the issue associated with the region of permanent settlement of forced migrants, especially it relates to the countries of the South overwhelmed by the refugees, as well as problems of international coordination of migration policy.

Since most countries receive only marginal part of migrants in relation to a country’s population, the effect of their arrival on the labour market of the host country is negligible. This situation is significantly adjusted in the event of intermittent influx of migrants, especially in the case of poor developing countries. Mismatch of supply and demand for labour may be adjusted either by reducing wages, or through growth investments in order to equalise the balance of the capital and labour ratio to the level that existed before the influx of new labour. Such adjustment may ensure the country’s GDP growth rate of 1 per

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