International Money Transfer
Immigrants commonly use money transfer to help their families in their native countries. The recent increase in both legal and undocumented immigration in the U.S. has led to an increase in money remittance at a rate of billions of dollars a year. Experts predict these numbers will continue to rise given the number of immigrants finding work in the U.S. Continue reading Increase in Domestic Immigration Means Remittances Will Rise
Transferring Money Around The Globe
Remittance patterns across the globe tend to follow patterns of migration.
The spread of globalization has accelerated migration trends and indirectly influenced many industries, including the remittance industry. Per the United Nations, 230 million people lived abroad (outside their home countries) in 2013. Per the World Bank, “remittances sent home by migrants to developing countries are equivalent to more than three times the size of the official development assistance.” Continue reading How Migration Influences Remittance