Worker Remittances in an International Scope
Millions of migrant workers send remittances to their families and communities of origin. Worldwide, annual remittances may amount to more than one hundred billion dollars, primarily sent from the industrial to the developing world.
This study looked at the impact of remittances on nine countries in Southern Europe, Asia, and Africa, and at the cost of transferring money from six major ending countries. It also compared these costs with sending remittances to Latin America. The report is based on interviews with experts and businesses, a review of the literature on remittances, and data gathering and analysis of pricing, sending methods, and technologies employed by more than fifty money transfer businesses including banks, ethnic stores, and international money transfer corporations.