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Over 5mn Venezuelans expected to live abroad by 2021

Bnamericas Published: Friday, July 27, 2018
Over 5mn Venezuelans expected to live abroad by 2021

Around 2mn people will leave Venezuela in the next three years amid escalating economic and political turmoil in the oil-rich country, according to immigration and investment consultancy firm Globofran.

During an event in the northern Venezuelan city of Maracay, Globofran CEO Jorge Partidas said 3.41mn people have already left the country in the past decade, fleeing hunger, violence, political persecution and crumbling public services.

The forecast means that by 2021, the total number of Venezuelans living abroad could equate to around one sixth of the country's population.

The Colombian government's migration director Christian Kruger said last week that there are now 870,000 Venezuelans living in the country, with figure rising by around 50,000 every month.

Brazil has also seen an influx of migrants from the strife-torn Opec nation, though on a smaller scale than Colombia. In April, the United Nations said that more than 800 Venezuelans were streaming into northern Brazil every day, mostly seeking asylum.

Despite sitting on the world's largest oil reserves, Venezuela is suffering the worst economic crisis in its history.

On Wednesday, President Nicolás Maduro announced plans to shed five zeros from the near worthless currency in a bid to combat hyperinflation.

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