The general consensus amongst economists is that opening one’s doors to foreigners will stimulate a country’s economic growth. Governments can do so either by introducing foreign direct investment or easing their immigration laws. By opening up their economy to foreigners and global corporations, countries can increase their population size, standards of living and output per capita. Additionally, they can also benefit from the creation of jobs, as well as the exchange of technology and expertise.
However, while economic growth is seen as favourable, a rapid development can present adverse consequences and backfire on the government’s goals.