Migrants' billions put aid in the shade

From Aid | The Guardian Wed Jan 30 2013, 13:35:48

Money transfers from workers abroad to family back home have tripled in a decade and are three times larger than global aid budgets

For decades it was a largely unnoticed feature of the global economy, a blip of a statistic that hinted at the tendency of expatriates to send a little pocket money back to families in their home countries.

But now, the flow of migrant money around the world has shot up to record levels as more people than ever cross borders to live and work abroad. It's known as remittance money, and in 2012 it topped $530bn (£335bn), according to the latest World Bank figures.

The amount has tripled in a decade and is now more than three times larger than total global aid budgets, sparking serious debate as to whether migration and the money it generates is a realistic alternative to just doling out aid. If remittances at the level recorded by the World Bank were a single economy, it would be the 22nd largest in the world, bigger than Iran or Argentina.

[view whole blog post ]
 See More    |     Report Abuse


You might also be interested in the following news stories:

Nigeria:   Women Outraged As Scores of Girls Still Missing (news)
Voice of America
19 April 2014

More than five days after the abduction of more than 100 teenage girls in Northeastern Nigeria, 85 girls remain missing, believed to be deep within a dangerous forest. [read more]

Nigeria:   Boko Haram Claims Abuja Bombing (news)
Premium Times
19 April 2014

The extremist Boko Haram sect has claimed responsibility for Monday's deadly car bomb at Nyanya bus station near Abuja, which killed at least 75 people and injured 124 more. [read more]

Nigeria:   Les familles des jeunes filles enlevées mènent les recherches (news)
Radio France Internationale
19 April 2014

Les recherches se poursuivent au Nigeria pour retrouver la centaine de lycéennes enlevées lundi soir par des membres présumés de la secte islamiste Boko Haram. Mais devant ... [read more]



blogAfrica is allAfrica.com's platform to help you keep an ear on the African blogosphere. We draw diverse voices from around the world who post regularly and insightfully about African issues. Bloggers, submit your blog's rss-feed!