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Economics

The Economics of International Migration and Remittances

Quick fact

In 2023, global remittances to low- and middle-income countries reached about $669 billion, nearly three times official development aid.

Why this is interesting

Every year, millions of people leave their home countries to work elsewhere, and the money they send home amounts to more than all foreign aid combined—over $800 billion. What drives this movement, and why does it matter?