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Cash flow: This graphic shows how much money is being sent by migrants to their families back home and where it is being transferred from in a transient economy that topped £335billion last year, according to new figures by the World Bank
How Migrants Are Sending £335BILLION To Their Struggling Families Back Home... More Than Three Times The World's Total Aid Budget -- Daily Mail
The amount of money being sent by migrants to their families back home topped £335billion last year, making it a larger economy than Iran or Argentina, it was revealed today.
The figure has tripled in the last ten years and is now three times bigger than the total aid budgets given by countries around the world as more people than ever choose to live abroad.
It has sparked debate whether this so-called remittance money could be a viable alternative to relying on help from other governments.
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My Comment: While some countries do need aid, this transfer of wealth is vastly more productive than most aid projects .... and a break for taxpayers. But aid projects are usually pet projects for the government in power .... and because they have their own agendas and foreign policies to pursue, I do not expect any changes in future aid projects and programs.
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