This report provides data and analysis of remittances and migration trends for developing countries over the past decade, as well as the potential contributions of remittance families to reaching the SDGs by 2030. Over the past decade, attention has focused primarily on the “sending side,” particularly the aggregate volumes and transaction costs of sending family remittances, essentially from developed to developing countries (North-South). The global dimension of this phenomenon is impressive: over US$450 billion is projected to be sent this year, more than three times official development assistance (ODA). As the size of remittance flows became evident, increased competition and technological advances have helped reduce transaction costs, particularly in high-volume corridors. Several issues still require attention, including lack of basic data for most sub-Saharan countries, excessive costs for sending South-South remittances and counterproductive regulatory barriers to innovation.
URL : 20170622114550.pdf