Abstract The world labor market is characterized by growing dynamics and strong volumes of labor export and import, which is realized through international labor migration. The movement of the labor force carries out several important functions in the global economy – from income redistribution to the exchange of professional experience, the spread of new innovative technologies, and the growth of labor productivity. In addition, the socio-economic implications of international labor migration for donor countries and recipient countries are ambiguous, they differ in the short, medium, and long-term periods.The study aims to analyze the impact of the socio-economic consequences of international labor migration. The article also focuses on the world experience in shaping and influencing the socio-economic consequences of international labor migration for the donor countries and for the importing countries of the labor force.