[robocat]

Canada currently has about 8M people (20%) born in other countries. If you add another 2 million immigrants then you need to build 5% more houses, need 5% more cars, need 5% more electricity, need 5% more infrastructure,

Capitalistically I would be interested to backtest the returns for a global macro fund that invested in countries with high immigration.

I live in New Zealand where ~30% of our population is people that were not born here (New Zealand is quite picky about who gets to come here, so we have less structural problems than some European countries that accept large numbers of refugees with little opportunity to filter for the most suitable people). New Zealand has been building housing at a fast pace to keep up with the ~50% increase in population over the “native” population.

https://en.m.wikipedia.org/wiki/List_of_sovereign_states_and...