Despite the global economic crisis, remittance flows have continued to grow. The year 2012 saw upwards of $50 billion remitted through formal channels to Africa alone, whilst worldwide approximately 250 million migrants remitted over $500 billion in this period, supporting nearly 1 billion people financially. While there remains a vigorous debate amongst researchers and practitioners as to the development impact of remittances, migrant communities continue to remit money to their families, often making considerable sacrifices to do so, and remittances represent a lifeline and safety net for many in the developing world. At the same time, remittances can drive inequality within countries. This policy brief assesses the key issues in relation to remittances and development, as well as the lack of research on the resulting impact that supports development and poverty reduction, and makes recommendations for future action by policy-makers, researchers, and development practitioners.
