Due to its ageing population and low birth rates, the European Union (EU) will need to import foreign labour in the next decades. In this context, the EU neighbouring countries (ENC) are the main countries of origin and transit of legal and irregular migration towards Europe. Their economic, cultural, and historical links also make them an important potential source of labour. The objective of this paper is to analyse past and future trends in ENC‐EU bilateral migration relationships. With this aim, we specify and estimate a gravity model for nearly 200 countries between 1960 and 2010. Next, we use the model to obtain medium‐run migration forecasts. Our results show a clear increase in migratory pressures from ENC to the EU in the near future, but probably lower than initially expected.