"One thing that we know about the current migrants, the current refugees, is that they are young," he went on to add.
"This is key, because if you're young it means you have 30-35 years left of working life, so you are going to be working for a few decades, and that means paying taxes for a few decades," Vargas-Silva said. "Overall, your contribution will tend to be positive."
U.K. based think tank Migration Watch says, however, that for the U.K. immigration is currently, "neither sustainable nor well managed," and that "High net migration has resulted in rapid population growth."
The think tank adds that with a larger population comes the need for infrastructure expansion and that, "increased migration will not generate the extra tax revenue needed to pay for such infrastructure expansion."
Regardless of the opposing views on the matter, the mass movement of people looking for a better life is set to continue.
Last week, the World Bank and IMF released a report which stated that the large scale migration of people from poorer parts of the world to richer regions will carry on for years.
"With the right set of policies, this era of demographic change can be an engine of economic growth," World Bank Group President Jim Yong Kim said in a release.
"If countries with aging populations can create a path for refugees and migrants to participate in the economy, everyone benefits. Most of the evidence suggests that migrants will work hard and contribute more in taxes than they consume in social services," he added.