Migrant remittances now outpace foreign investments in developing countries: IOM report
Dhaka, May 7 -- International migration remains a driver of human development and economic growth, highlighted by a more than 650 percent increase in international remittances from 2000 to 2022, rising from USD 128 billion to USD 831 billion, according to a new global report released today.
The growth continued despite predictions from many analysts that remittances would decrease substantially because of COVID-19.
The International Organization for Migration (IOM) launched the World Migration Report 2024, which reveals significant shifts in global migration patterns, including a record number of displaced people and a major increase in international remittances, reports, UNB.
IOM Director General Amy Pope formally released the report ...
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