Migration and Remittances for Development in Asia
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Asia and the Pacific has a significant rise in migration: about one in three migrants comes from Asia according to the United Nations. Remittances from migrants have provided foreign exchange earnings for many countries in the region.
Currently, over 80 million people from Asia and the Pacific live and work outside of their countries of origin. Migration and remittances have both positive and negative effects. For the countries, remittances became an important source of foreign exchange. At the household level, remittances enable families to spend more on education and health. However, migration also has a negative social impact, including the exploitation and abuse of workers. This report explores ways to enhance the welfare of migrant workers as well as ways to improve the productive investments of remittances to support the countries’ growth and development.
- Introduction and Overview
- Magnitude and Pattern of Migration and Remittances
- Dynamics of Remittances
- Financial Literacy Programs for Remittances
- Leveraging Remittances for Financing for Development
- Channeling Remittances and Diaspora Savings for Investments
- Future Flow Remittance Transactions
- Conclusion—Promoting Migration and Remittances for Development in Asia