Statsguru: Remittance flows to low- and middle-income regions surge

Among the countries of origin of international migrants, India ranks first

Remittances to low- and middle-income countries are estimated to have reached a staggering $466 billion in 2017, up from $429 billion in 2016, according to a new report by the World Bank and Knomad. As seen in Chart 1, the report estimates that such flows to these countries may well cross $500 billion by 2019.

The steady rise in such flows over the years has led to them dwarfing other kinds of flows. As seen in Chart 2, remittances are now almost three times the size of official development assistance (ODAs) given to low- and middle-income countries. Going by the