Migrants sent USD 445 billion home in 2016

A dramatic up tic in the amount of money – USD 445 billion in 2016 – migrants send home to their families in developing countries is helping to lift millions out of poverty, according to a new report issued by the United Nations International Fund for Agricultural Development (IFAD). About 40 per cent of remittances – USD 200 billion – are sent to rural areas where the majority of poor people live,” said Pedro de Vasconcelos, lead author of the report, which notes that over the past decade, remittances have risen by 51 per cent – far greater than the 28 per cent increase in migration from these countries. Currently, about 200 million migrant workers support some 800 million family members globally. (UN, 6/14/2017)

Sending Money Home: Contributing to the SDGs, one family at a time (IFAD, 6/14/2017)