That's the highest number of new arrivals in a single year since 1999, at the height of Balkans crisis.
"Unless some serious peace resolution takes place in the next coming month, we could see a doubling of that figure by the end of the year,'' Mr Towle told AAP.
Of the 88,600 refugees resettled in 2012, Australia took 5,900 while the United States, which resettled the most refugees by far, accepted 66,300.
An average of 23,000 people were forced to leave their homes and seek protection every day in 2012.
But most of those people turned to developing countries, who hosted over 80 per cent of the world's refugees.
Pakistan was host to the largest number of refugees worldwide, with 1.6 million people, followed by Iran, who hosted more than 850,000 refugees.
"It's difficult for them to look after their own community let alone help out millions of people over their borders and yet they do it,'' Mr Towle said.
He said it was paradoxical that the issue of asylum seekers was so hotly debated in Australia, considering the relatively low number of boat arrivals.
- AAP