remittances

The debilitating cost of remittances

Closing the Gap

The debilitating cost of remittances

Dilip Ratha knows how hard it is to work abroad and send money home. Why? Because he had to go through the same hoops when he was a migrant. It's the inconvenience and the cost, the World Bank's head of KNOMAD and lead economist says during a livestream conversation on closing the global digital gap hosted by GZERO in partnership with Visa.

Closing the Gap: Digital Tools for Economic Empowerment Wednesday, October 19, 2022 | 11 am ET / 8 am PT

Closing the Gap

Watch live October 19: Can access to digital tools transform the world's economy?

Is digitization crucial to economic growth? GZERO Media is partnering with Visa to explore what it means when 70% of the global economy’s growth in the next decade is projected to come from digitally-enabled businesses – yet 3.7 billion people lack internet access. What are the tools and initiatives needed to bring more people into the digital economy? Live today, our expert panel will explore the impact of digitization on empowering consumers and small businesses. Watch here.

Critical lifeline: remittances and the developing world

Closing the Gap

Critical lifeline: remittances and the developing world

Watch: Remittances offer a vital lifeline to some 800 million people around the globe. In Mexico, the migrant advocacy group APOFAM helps pool resources to aid Mexicans. Whether a Mexico-based mother of two whose husband works in the US or a group of elderly artisans, APOFAM helps people flourish thanks to remittances.
Live on October 19, experts will discuss remittances and other tools for economic empowerment. Learn more and register here.

Top 10 countries remittances are sent from, and sent to; the 10 countries most dependent on remittances; and how many billions are flowing in remittances each year since 2013.

Closing the Gap

The Graphic Truth: Sending money home

Migrants leave their countries of origin not only to find work opportunities — the hard-earned money they send back helps keep the lights on back home. After a COVID-related blip in 2020 – which saw a small decline but defied disastrous predictions – global remittances sent by migrants to relatives in their countries of origin are again on the upswing. That’s a big deal for the migrants’ families and for governments of nations who rely on that revenue to keep the economy from collapsing. We take a look at the countries that send and receive the most migrant cash, those that most depend on remittances, and how inflows have performed recently.