Workers' Remittances

Remittances as a Development Tool

The size of worker's remittances globally is estimated at approximately $100 billion in 2001. Three regions received the bulk of these remittances: Latin America, South Asia and East.

Studies have indicated that these flows are more than:

• Capital market flows
• Official aid flows
• Half of foreign direct investment flows

The size of the remittance and its potential impact on poverty reduction and the development of a country necessitate the need for further studies and analysis.

ADB can play a catalytic role in optimizing the benefits of these remittances to Asian developing countries.

Read about remittances as a development tool.