This paper examines how the Syrian refugee crisis unfolded and its impact on European countries, socially, politically, culturally, and economically. Evaluating the socio-economic impact of large-scale refugee migration on the European Union offers readers important insights into the positive impact on the EU, rather than populist ideas advanced by some European leaders. The European leaders are more worried about the dilutions of their cultural identity vis-à-vis refugees’ cultural identity. The rise of far-right parties in several European countries is a perfect example of this cultural identity dilemma. The fiscal burden, security threat, and European integration are at stake with the arrival of refugees to the EU, as leaders have propagated, but the real assessment of the refugee issue must be based on facts and data rather than propaganda.