Migration and Remittances : Recent Developments and Outlook

Using newly available census data, the stock of international migrants is estimated at 247 million in 2013, significantly larger than the previous estimate of 232 million, and is expected to surpass 250 million in 2015. Migrants’ remittances to developing countries are estimated to have reached $436 billion in 2014, a 4.4 percent increase over the 2013 level. All developing regions recorded positive growth except Europe and Central Asia (ECA), where remittance flows contracted due to the deterioration of the Russian economy and the depreciation of the ruble. In 2015, however, the growth of remittance flows to developing countries is expected to moderate sharply to 0.9 percent to $440 billion, led by a 12.7 percent decline in ECA and slowdown in East Asia and the Pacific, Middle-East and North Africa, and Sub-Saharan Africa. The positive impact on flows of a robust recovery in the US will be partially offset by continued weakness in Europe, the impact of lower oil prices on the Russian economy, the strengthening of the US dollar, and tighter immigration controls in many source countries for remittances. Remittance flows are expected to recover in 2016 to reach $479 billion by 2017, in line with the more positive global economic outlook.

Bibliographic Details

Main Authors:	Ratha, Dilip K., De, Supriyo, Dervisevic, Ervin, Plaza, Sonia, Schuettler, Kirsten, Shaw, William, Wyss, Hanspeter, Yi, Soonhwa, Yousefi, Seyed Reza
Format:	Brief biblioteca
Language:	English en_US
Published:	2015-04-13
Subjects:	SANITATION, MONEY TRANSFER SYSTEMS, LABOR MIGRANTS, COSTS OF REMITTANCES, MONETARY POLICY, GLOBAL REMITTANCE, REGULATORY FRAMEWORK, UNEMPLOYMENT RATES, REPATRIATION, GROWTH OF REMITTANCES, REMITTANCE TRANSFER, DEVELOPMENT ASSISTANCE, BIG CITIES, MONEY LAUNDERING, MIGRATION POLICY, VALUE OF REMITTANCES, REMITTANCES FLOWS, INCOME, REMITTANCE INFLOWS, TERRORIST, REMITTANCE, BALANCE OF PAYMENTS, COUNTRIES OF ORIGIN, DEVELOPING COUNTRIES, INFRASTRUCTURE DEVELOPMENT, IMMIGRANTS, MONEY TRANSFER, ECONOMIC IMPLICATIONS, DATA ON REMITTANCES, REMITTANCE SERVICES, DROP IN REMITTANCES, DEVELOPMENT GOALS, CREDIT CARD, REMITTANCE FLOWS, SUSTAINABLE DEVELOPMENT, ANNUAL REMITTANCES, NATIONAL LEVEL, BALANCE OF PAYMENTS MANUAL, NUMBER OF PEOPLE, VULNERABILITY, TRANSFER SERVICES, REMITTANCE OUTFLOWS, INTERNATIONAL LABOR ORGANIZATION, INFORMAL CHANNELS, MONEY TRANSFER OPERATORS, KNOWLEDGE, NATIVE WORKERS, REMITTANCE RECEIPTS, INTERNATIONAL MIGRATION, OFFICIAL DEVELOPMENT ASSISTANCE, TRAINING, FORCED MIGRATION, JOB OPPORTUNITIES, LOW-INCOME COUNTRIES, POPULATION DIVISION, IMMIGRATION POLICIES, ILLEGAL IMMIGRATION, INTERNATIONAL REMITTANCES, MIGRATION, TRANSFERS, NUMBER OF MIGRANTS, REMITTANCE SERVICE PROVIDERS, INTERNATIONAL MONEY TRANSFER OPERATORS, TECHNOLOGICAL INNOVATIONS, BALANCE OF PAYMENTS STATISTICS, LABOR SHORTAGES, SOCIAL SECURITY, HUMAN TRAFFICKING, TRANSFER COSTS, MIGRANT DESTINATION COUNTRIES, MIGRANTS, TRANSACTIONS, MIGRATION FLOWS, UNEMPLOYMENT, HOUSEHOLD LEVEL, DIASPORA, MIGRANT, REGULATORY FRAMEWORKS, TRANSPORTATION, POLICIES, TRANSFER SYSTEMS, IMMIGRATION POLICY, LOW-INCOME COUNTRY, MIGRANT REMITTANCES, SMALL COUNTRIES, SKILL LEVEL, FOREIGN DIRECT INVESTMENT, MONEY TRANSFER BUSINESSES, PURCHASING POWER, NATIONAL AUTHORITIES, INTERNATIONAL MIGRANT, CAPITAL FLOWS, MIGRANT WORKERS, REFUGEES, INTERNATIONAL BORDERS, POPULATIONS, FOREIGN EXCHANGE, MALARIA, NATIONALS, POLICY, REMITTANCE COSTS, FINANCIAL INFRASTRUCTURE, BANK ACCOUNTS, INTERNATIONAL MIGRANTS, INTERNATIONAL MONEY TRANSFER, LOCAL COMMUNITY, RECIPIENT COUNTRIES, WIRE TRANSFERS, MONEY TRANSFER COMPANIES, BORDER TRANSACTIONS, WAR, IRREGULAR MIGRATION, DOMESTIC REMITTANCES, ASYLUM, CENSUSES, COUNTRY OF DEPARTURE, RURAL AREAS, REMITTANCE SERVICE, NUMBER OF CHILDREN, FINANCIAL MARKETS, IMMIGRATION, COMPENSATION OF EMPLOYEES, RATE OF GROWTH, MONEY TRANSFER SERVICES, POPULATION, DEVELOPMENT PLANS, MONEY TRANSFER BUSINESS, DEBIT CARD, TRANSFER BUSINESS, CIVIL WAR, FOREIGN POLICY, REMITTANCE CORRIDORS, HOME COUNTRIES, EXCHANGE RATE, COUNTRY OF ORIGIN, REMITTANCES, RECIPIENT COUNTRY, ACCOUNT HOLDERS, GENDER EQUALITY, SERVICE PROVIDERS,
Online Access:	http://documents.worldbank.org/curated/en/136611467989539595/Migration-and-remittances-recent-developments-and-outlook http://hdl.handle.net/10986/25478
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