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.
(World Bank, Washington, DC, 2011-05)
Mohapatra, Sanket; Ratha, Dilip; Silwal, Ani
Officially recorded remittance flows to
developing countries recovered quickly to $325 billion in
2010 after the global financial crisis. But they have not
kept pace with rising prices in recipient countries.
Remittance flows are expected to grow at lower but more
sustainable rates of 7-8 percent annually during 2011-13 to
reach $404 billion by 2013. Remittance flows to Latin
America are growing again in 2011 because of the
stabilization of the U.S. economy. Remittance flows from
Russia and the Gulf Cooperation Council (GCC) countries to
Asia have been strong due to high oil prices. However, weak
job markets in Western Europe are creating pressures to
reduce migration. The crisis in the Middle East and North
Africa has brought a great deal of uncertainty for migration
and remittance flows. These political crises and the recent
global financial crisis have highlighted, once again, the
need for high-frequency data on migration and remittances.