The ageing population and associated lack of skilled workers presenta serious challenge to Europe’s competitiveness and to the sustainabilityof European welfare systems. Demographic change meansthat migration is no longer simply a security issue or a humanitarianchallenge but has also become a significant economic factor. Targetedmigration management also makes it possible to create closer andmore extensive networks involving global growth centres. For thisto happen, the European Union needs to create a common migrationregime.