Harnessing the Remittance Boom
In Asia’s developing countries, the importance of remittances – the money that migrant workers send home to their families (many of whom live in poor and remote areas) – is immense. But, while remittances to these countries are five times higher than official aid, their potential economic-development benefits have not been realized.
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ROME – For more than a decade, Asia’s economies have been on the move – and so have its people. The scale of migration from rural to urban areas and across international borders is historically unprecedented, and twenty-first-century Asia is its focal point.