Remittances, diaspora and inclusive micro-finance: What have we learnt?

The benefits of migration are mostly through remittances to the country of origin. Poor or uncertain economic prospects in developing countries result in part of the family living and working in an industrialized nation and sending money to support family members who remain in their home country. Remittances characterize the most tangible contribution of migrants to poverty reduction. Migration is not only a South–North phenomenon as commonly believed; South–South migration is just as large. South–South remittance flows make up 30–45 per cent of total remittances received by developing countries (Ratha and Xu 2008).

Related Subject(s): Migration