Friday, October 4, 2013
Remittances from migrant citizens sending monies to their native countries continues to be "big business." The developing world is expected to receive $414 billion in migrant remittances in 2013, an increase of 6.3 percent over the previous year. This is projected to rise to $540 billion by 2016. Globally, the world’s 232 million international migrants are expected to remit earnings worth $550 billion this year, and over $700 billion by 2016, says the latest issue of the World Bank’s Migration and Development Brief.