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JAN 30, 2013 - The Guardian

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Migrants' billions put aid in the shade

Money transfers from workers abroad to family back home have tripled in a decade and are three times larger than global aid budgetsFor decades it was a largely unnoticed feature of the global economy, a blip of a statistic that hinted at the tendency of expatriates to send a little pocket money back to families in their home countries.But now, the flow of migrant money around the world has shot up to record levels as more people than ever cross borders to live and work abroad. It's known as remittance money, and in 2012 it topped $530bn (£335bn), according to the latest World Bank ... Read More

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