Billionaire hedge fund manager and political donor George Soros has said Europe must welcome huge numbers of asylum seekers and economic migrants, claiming they will benefit the economy.

Writing in Die Welt, Soros lays out “seven pillars” he beleives should be enacted in order for Germany and Europe to see financial gains from the mass migration of people from the third world.

Calling Britain’s vote to leave the bloc a tragedy, the Hungarian Billionaire warns that the prospect of “xenophobic, nationalist movements” winning elections in France, the Netherlands, and Germany constitutes a massive threat.

Soros advocates the EU securing its external borders as a measure to prevent populists gaining power, reasoning that chaotic scenes during the height of the migrant crisis “alienated” and “frightened” Europeans.

The open borders ideologue remains committed to pushing mass migration into European countries, however, arguing that the EU must take a “considerable number” of migrants directly from states’ bordering crisis zones “in a safe and orderly manner”.

Soros claims one of the most important tasks Europe must commit to undertaking is the creation of a “welcoming environment” for economic migrants as well as asylum seekers. He contends: “Given the aging population in Europe, the benefits [of migration] significantly outweigh the associated problems and the cost of integrating migrants.”

Despite maintaining that migrants are a boon to European economies, Soros says the EU should create spend “at least €30 billion annually” on facilitating the migration of non-Europeans. The globalist billionaire has frequently championed the idea that EU nations should borrow large amounts of money to fund mass migration.

Although Soros claims mass migration of unskilled migrants from poor countries would benefit European economies, facts suggest they are a serious drain on EU states’ resources. Non-EU migrants cost the UK treasury £16 billion a year, net, while across the continent they have more than double the unemployment rates of Europeans.

A variety of datasets from different European countries support the idea that non-European migrants are a net cost to nations’ treasuries. In the Netherlands, 65 per cent of non-European migrants who arrived during the 1990s are still living on welfare.

That aging populations should be offset by the mass importation of migrants has been described as a “Ponzi scheme” by Dr. Joseph Chamie, director of research at the Centre for Migration Studies. He argues that GDP growth driven by mass migration boosts companies’ profits at the expense of quality of life and the environment.

The demographer ,who directed the United Nations Population Division for 12 years, notes that mass migration means more demand, consumption, borrowing, and profits, but explains that the system is unsustainable.

He writes: “When the bubble eventually bursts and the economy sours, the scheme spirals downward with higher unemployment, depressed wages, falling incomes, more people sinking into debt, more homeless families — and more men, women and children on public assistance.”

Dr. Chamie contends that Ponzi demography allows companies to enjoy the increased profits brought about by a larger population while the general public, through taxation, is forced to pick up the tab for mounting costs of education, healthcare, housing, and crime.