The Role of Remittances in Developing Countries

What are Remittances?

Remittances are transfers in the form of goods or money that migrants send back home to their families. When their native land is in a poor economic state, people will often immigrate to another country of a high level of economic situtations, with the hope of finding better jobs in order to provide for their family members. Every year, people go to the Middle East, the United States, Japan, Australia, etc.