Publication: Outlook for Remittance Flows 2011-12 : Recovery After the Crisis, But Risks Lie Ahead
Date
2010-11
ISSN
Published
2010-11
Author(s)
Abstract
Officially recorded remittance flows to
developing countries are estimated to increase by 6 percent
to $325 billion in 2010. This marks a healthy recovery from
a 5.5 percent decline registered in 2009. Remittance flows
are expected to increase by 6.2 percent in 2011 and 8.1
percent in 2012, to reach $374 billion by 2012. This outlook
for remittance flows, however, is subject to the risks of a
fragile global economic recovery, volatile currency and
commodity price movements, and rising anti-immigration
sentiment in many destination countries. From a medium-term
view, three major trends are apparent: (a) a high level of
unemployment in the migrant-receiving countries has prompted
restrictions on new immigration; (b) the application of
mobile phone technology for domestic remittances has failed
to spread to cross-border remittances; and (c) developing
countries are becoming more aware of the potential for
leveraging remittances and diaspora wealth for raising
development finance.
Citation
“Mohapatra, Sanket; Ratha, Dilip; Silwa, Ani. 2010. Outlook for Remittance Flows 2011-12 : Recovery After the Crisis, But Risks Lie Ahead. Migration and Development Brief; No. 13. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/180f6329-1054-5c1f-88fa-43733b060c5b License: CC BY 3.0 IGO.”