Migrant remittances to their countries of origin have grown by 51 percent over the last 10 years. More than one billion people are involved in either sending or receiving almost half a trillion dollars in remittances every year, says a report from the International Fund for Agricultural Developoment (IFAD), based in Rome.
The study, titled 'Sending money home: towards the sustainable development goals, one family at a time' is to be presented in New York on June 14. "More than one billion people - one out of seven - are involved in either sending or receiving almost half a trillion dollars in remittances every year. Migration flows and the remittances that migrants send home are having large-scale impacts on the global economy and political landscape," the report reads.