{"id":86273,"date":"2023-12-07T06:00:00","date_gmt":"2023-12-07T05:00:00","guid":{"rendered":"https:\/\/www.futuribles.com\/largent-des-emigres-de-plus-en-plus-indispensable-aux-pays-pauvres\/"},"modified":"2024-10-31T14:38:33","modified_gmt":"2024-10-31T13:38:33","slug":"largent-des-emigres-de-plus-en-plus-indispensable-aux-pays-pauvres","status":"publish","type":"post","link":"https:\/\/www.futuribles.com\/en\/largent-des-emigres-de-plus-en-plus-indispensable-aux-pays-pauvres\/","title":{"rendered":"Remittances from Emigrants Are Becoming Increasingly Vital for Poor Countries"},"content":{"rendered":"
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Despite the economic crises being experienced in many high-income countries, the remittances that migrants send back to low- and middle-income countries[1]<\/a><\/sup> show no signs of drying up. For more than 20 years, official development assistance has been lower than the total value of private remittances from migrants; since 2022, at the global level, these remittances have clearly exceeded foreign investment<\/a> (in other words, productive investment), and this threshold was passed as early as 2017 if we exclude China from our analysis.<\/h6>\n\n\n
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\n Remittances, Foreign Direct Investment (FDI), and Official Development Assistance (ODA) flows to low- and middle-income countries, 2000-2024\n <\/p>\n <\/div>\n

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\n Remittances, FDI, and ODA flows to low- and middle-income countries, excluding China, 2000-2024\n <\/p>\n <\/div>\n

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e = estimate; f = forecast for 2023 and 2024.
\nSource: <\/em>\u201cRemittances Remain Resilient but Are Slowing<\/a>\u201d, Migration and Development Brief, <\/em>no. 38, June 2023, p. 10, World Bank.<\/p>\n\n <\/div>\n\n\n<\/div>\n

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The main recipients of these flows are India (US$111 billion in 2022), Mexico (US$61 billion), China (US$51 billion), the Philippines (US$38 billion), and Pakistan (US$29 billion). The countries most dependent on money from their diasporas are those where aid received from their nationals abroad represents a large share of GDP (gross domestic product). In 2022, Tajikistan was first in line (51% of GDP), followed by Tonga (44%), Lebanon (36%), Samoa, Kyrgyzstan, Gambia, Honduras, El Salvador, and Nepal.<\/p>\n

Overall, financial flows to low- and middle-income countries increased rapidly in 2021 and 2022, by 10% and 8% respectively, as the COVID-19 crisis was receding. However, these flows are dependent on the economic situation in the countries where the migrants are located. Saudi Arabia is the third largest source country for remittances, after the United States and the United Arab Emirates.<\/p>\n\n <\/div>\n

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\n Voir aussi<\/span>\n
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\n \n \"\"<\/a>\n <\/span>\n \n India-Africa: Looking to the Future<\/a>\n \n \n <\/use>\n<\/svg>\n <\/a>\n <\/span>\n
\n
9 November 2023<\/div>\n NAIDU Sanusha<\/a>\n Dr MODI Renu<\/a>\n Dr MISHRA Abhishek<\/a>\n (…)<\/span>\n
\n 1h03\n <\/div>\n <\/div>\n\n
\n \n \n Panel discussion\n <\/a>\n Geopolitics<\/a>\n <\/div>\n <\/div>\n<\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n
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Flows to South Asia benefited from an improvement in the employment rate and oil revenues in the Gulf States, as well as from a recovery in employment in OECD (Organisation for Economic Co-operation and Development) countries. Flows to Latin and South America are more dependent on the employment situation in the USA and Spain. Contrary to expectations, flows to Europe and Central Asia have risen sharply<\/a>, particularly from Russia. This can be explained by the fact that the 300,000 Russian workers called up to fight in Ukraine have been replaced by workers from neighbouring republics (members of the Commonwealth of Independent States). The funds received by Tajikistan and Uzbekistan thus rose sharply between 2020 and 2021 (+81% and +80%), while Armenia, Georgia, and Kyrgyzstan have also benefited from this windfall of Russian money. In 2022, Ukraine received the largest value of international transfers of all OECD countries in the region (US$17.2 billion), but this was down by more than 5% compared with 2021.<\/p>\n\n\n\n

Unlike other regions, the countries of the Maghreb and the Middle East have instead seen their remittances fall, by 4% in 2022 (after experiencing a growth of 12% in 2021<\/a>), despite the fact that these flows are particularly important for the economies of these countries, where they amount to more than the combined sum of foreign direct investment and official development assistance. For the Maghreb countries, the main reason for this is the fall in real income due to high rates of inflation in Europe. However, another major factor can be seen in the case of Egypt, the biggest remittance-receiving country in the region, which saw its receipt of remittances fall by 10% between 2021 and 2022. This drop does not seem to be linked entirely to a reduction in remittances, but rather to the conversion of the local currency, which is devaluing too quickly, into other currencies bought on the black market. Finally, Sub-Saharan Africa accounts for less than 8% of international remittances. Yet here too remittances are significant, amounting to double the value of foreign investment in 2022, and they have also proven to be more stable over time. They increased by 6% in 2022, after rising by more than 16% in 2021. In many countries in the region, these transfers have helped to limit food insecurity, which has been exacerbated by the increase in the cost of imports due to the war in Ukraine. For many countries, remittances are the main source of foreign currency. In Kenya, for example, the value of remittances exceeds that of the country\u2019s main exports, which include tourism, tea, coffee, and horticulture.<\/p>\n\n\n<\/div>\n

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Sub-Saharan Africa has the highest money transfer fees in the world. The rate stands at 8% of the amount transferred, compared with 4.6% in South Asia, the cheapest region. In fact, one of the United Nations\u2019 Sustainable Development Goals (SDGs) is that, by 2030, the cost of money transfers should not exceed 3% of the amount sent.<\/p>\n

In the future, the World Bank predicts a slowdown in remittances to low- and middle-income countries, having estimated a limited growth rate of 1.4% in 2023, with the total sum reaching almost US$660 billion. The main reason for this slowdown is the relative fall in income in the host countries, which is linked to their high rates of inflation.<\/p>\n

However, there is little doubt that migration will increase in the medium term, not only for security reasons (as has been the case in Ukraine and Sudan) and economic reasons, but also owing to climatic events, which will inevitably exacerbate existing problems. Remittances from foreign diasporas are likely to become even more essential to the economic survival of many countries.<\/p>\n

This article has been translated from French by Sam Ferguson.<\/em><\/span><\/p>\n\n <\/div>\n

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\n Voir aussi<\/span>\n
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\n \n \"\"<\/a>\n <\/span>\n \n The Mirage of the Middle Classes in Africa<\/a>\n \n \n \n <\/use>\n<\/svg>\n <\/a>\n <\/span>\n
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26 April 2023<\/div>\n LAUTIER Marc<\/a>\n
\n 14 p.\n <\/div>\n <\/div>\n\n
\n \n \n <\/use>\n<\/svg>\n\n Journal Article\n <\/a>\n Economics<\/a>\n Society<\/a>\n <\/div>\n <\/div>\n<\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n
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  1. \n

    Remittances to low- and middle-income countries, as defined by the World Bank, account for 76% of all private remittances worldwide. \u2191<\/a><\/p>\n<\/li>\n<\/ol><\/div>","protected":false},"excerpt":{"rendered":"

    Despite the economic crises being experienced in many high-income countries, the remittances that migrants send back to low- and middle-income countries[1] show no signs of drying up. For more than 20 years, official development assistance has been lower than the total value of private remittances from migrants; since 2022, at the global level, these remittances … Continued<\/a><\/p>\n","protected":false},"author":25,"featured_media":84401,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"none","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"both","_seopress_redirections_param":"","_seopress_redirections_type":301,"_seopress_analysis_target_kw":"","footnotes":""},"categories":[140],"tags":[133,203],"keyword":[930,997,975,1521,991],"class_list":["post-86273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newswatch","tag-economie-et-emploi-en","tag-geopolitique-en","keyword-pays-en-developpement-en","keyword-developpement-economique-en","keyword-financement-en","keyword-investissements-etrangers-en","keyword-migration-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/posts\/86273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/comments?post=86273"}],"version-history":[{"count":5,"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/posts\/86273\/revisions"}],"predecessor-version":[{"id":99218,"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/posts\/86273\/revisions\/99218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/media\/84401"}],"wp:attachment":[{"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/media?parent=86273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/categories?post=86273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/tags?post=86273"},{"taxonomy":"keyword","embeddable":true,"href":"https:\/\/www.futuribles.com\/en\/wp-json\/wp\/v2\/keyword?post=86273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}