- World Bank has released its Migration and Development Brief. India is positioned as the world’s top recipient of remittances with its diaspora sending USD 79 billion back home in 2018.
- The remittances in 2018 grew by over 14 percent in India.
- India managed to retain its top spot in remittances by registering a significant flow of remittances from USD 62.7 billion in 2016 to USD 65.3 billion 2017 and to USD 79 billion in 2018, a significant growth over the last three years.
Migration and Development Briefs
- Migration and Development Briefs are prepared by the Migration and Remittances Unit, Development Economics (DEC).
- The brief aims to provide an update on key developments in the area of migration and remittance flows and related policies over the past six months.
- It also provides medium-term projections of remittance flows to developing countries. A special topic is included in each brief. The brief is produced twice a year.
- This Migration and Development Brief reports global trends in migration and remittance flows, as well as developments related to the Global Compact on Migration (GCM), and the Sustainable Development Goal (SDG) indicators for volume of remittances as percentage of gross domestic product (GDP) (SDG indicator 17.3.2), reducing remittance costs (SDG indicator 10.c.1) and recruitment costs (SDG indicator 10.7.1). This Brief has a special focus on transit migration.
- Addressing the adverse drivers of transit migration will involve policy efforts to create economic opportunities and reduce conflict and fragility in migrants’ countries of origin.
- Opening more legal channels for migration to destination countries would also help reduce transit migration.
- Collaborative efforts among the origin country, the transit country, and the final destination country to control transit migration, however, should not violate free (intra-regional) movement of people under regional protocols.
- Respecting the human rights of transit migrants remain a policy priority. In situations where transit migrants stay on for protracted periods, there may be a need to provide access to education and health services, as well as to labor markets.
- For their part, origin countries need to empower embassies in transit countries to assist their nationals.
- Multilateral agencies can help the global community through the collection of data and also analytical and technical assistance in addressing the drivers of transit migration.
- They can also act as honest brokers to facilitate collaboration among the concerned parties. Multilateral development banks can also provide innovative financing solutions to transit countries.