Migrants sending home billions more than in 2007

UNITED NATIONS (AP) — Migrants are sending home billions of dollars more than they did a decade ago — and the rate of growth in remittances is almost double the increase in migration, according to a UN report released Wednesday.

The report commissioned by the International Fund for Agricultural Development says that remittances increased by 51 percent during the decade from 2007 to 2016 while migration rose by 28 percent and population in the home countries of migrants grew by 13 percent.

The Rome-based UN agency which fights poverty in rural areas said the report is the first to examine a 10-year trend in migration and remittance flows. It said the findings are based on a series of studies and surveys commissioned by the fund, known as IFAD, and on its analyses of World Bank data.

According to the report, remittances increased in almost all regions of the world, but the sharp rise between 2007 and 2016 was mainly due to Asia which saw an 87 percent increase in money sent home from migrants.

IFAD President Gilbert Houngbo said what’s most important is the impact on the lives of family members and others who receive the money.

“The small amounts of $200 or $300 that each migrant sends home make up about 60 percent of the family’s household income, and this makes an enormous difference in their lives and the communities in which they live,” he said in a statement.

According to the report, more than 200 million migrant workers are now supporting an estimated 800 million family members around the world.