Ukrainian refugees living in European Union countries have formed a powerful economic community, with a total gross product estimated at around $175 billion. This figure is nearly equal to Ukraine’s own GDP for 2024, which stands at approximately $188 billion.
This was highlighted by economist and financial analyst Aleksei Kushch in his article “From Refugees to Investors: It’s Time to Think About Bringing Trillions of Dispersed Ukrainians Home.”
According to Kushch, despite Ukraine’s population of 28–30 million people, the comparable economic output of the diaspora is due to the higher incomes and living standards in EU countries.
This striking fact indicates that in the near future, the Ukrainian community in exile will match the domestic Ukrainian consumer market in terms of purchasing power, Kushch emphasizes.
The expert predicts that this will lead to a shift in Ukrainian business strategy toward tapping into this new external market. The first sector to develop, he notes, will be logistics — especially postal services that support connections between Ukrainians in the EU and those back home.
The next phase is expected to see growing demand among EU-based Ukrainian communities for Ukrainian products, medicines, and cultural projects — ranging from children’s books and educational materials to concerts and performances by Ukrainian artists abroad.
In addition, Kushch sees strong potential in the development of so-called “medical tourism” — not aimed at foreigners, but at Ukrainians living abroad. “Working in the EU but coming to Ukraine for dental work or scheduled surgeries could become a new norm for thousands,” he concludes.
