Migrant Labor Remittances in Africa : Reducing Obstacles to Developmental Contributions
Migrants have received heightened international recognition from the development community in recent times. New World Bank estimates on the volume of remittances show that documented remittance flows continue to increase at a rapid rate, putting gl...
| Main Authors: | , |
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| Language: | English |
| Published: |
World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/02/5641004/migrant-labor-remittances-africa-reducing-obstacles-developmental-contributions http://hdl.handle.net/10986/9672 |
| Summary: | Migrants have received heightened
international recognition from the development community in
recent times. New World Bank estimates on the volume of
remittances show that documented remittance flows continue
to increase at a rapid rate, putting global annual flows at
US$88 billion for 2002 (revised up from earlier estimates of
US$80 billion reported in the 2003 World Bank Global
Development Report) and projecting $90 billion for 2003,
based on trends in the first half of the year. Actual
figures are generally accepted to be much higher. This means
that remittance flows constitute the largest source of
financial flows to developing countries after Foreign Direct
Investment (FDI), and indeed in many countries exceed FDI flows. |
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