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:

Egypt:   Egyptian Plane Held in Sweden for Carrying Syrians With Fake Visas - Sources (news)
Aswat Masriya
17 December 2014

An Egyptian plane was held at the Malmö Airport since early Wednesday after airport authorities discovered that its passengers, of Syrian nationality, carried fake visas to the country, sources ... [read more]

Egypte:   L'Egypte condamne fermement l'attentat mené contre l'école de militaires de Peshawar (news)
Egypt State Information Service
17 December 2014

L'Égypte condamne fermement l'attentat terroriste mené contre une école accueillant des enfants de militaires à Peshawar, qui a fait plus de 125 morts, a ... [read more]

Egypte:   La reprise des activités de l'ambassade britannique en Egypte (news)
Egypt State Information Service
17 December 2014

Le ministre du tourisme, Hicham Zaazou, s'est félicité de la reprise par l'ambassade britannique au Caire, de ses activités et de ses services au public mardi, après ler ... [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!