Outlook for Remittance Flows 2011-12 : Recovery After the Crisis, But Risks Lie Ahead
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...
| Main Authors: | , , |
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| Format: | Brief |
| Language: | English |
| Published: |
World Bank, Washington, DC
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/11/13266802/outlook-remittance-flows-2011-12-recovery-after-crisis-risks-lie-ahead http://hdl.handle.net/10986/10907 |
| Summary: | 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. |
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