MAYUMI OZAKI

Every year, millions of people cross borders to work abroad. People migrate for various reasons, but for the majority of migrant workers, they are compelled by poverty and lack of job opportunities in their home countries. Throughout the world, there are an estimated 96 million migrant workers, of which 28 million are from the Asia and Pacific region. 

Corresponding to the growth of the number of migrant workers, remittance inflows to developing countries has grown dramatically—estimated at $435 billion in 2014. In 2013, remittances were more than three times larger than official development assistance, and in many countries, significantly exceeded foreign direct investments. 

In terms of the remittance volume that the countries received, India, China, and the Philippines rank first, second and third, respectively. In terms of remittances as a share of gross domestic product (GDP), Tajikistan, the Kyrgyz Republic, and Nepal rank first, third and sixth in 2013.

Published on: 11 February 2015  | The Himalayan Times