When thinking about ‘remittances’ – the money sent from a resident of one country to a person elsewhere in the world – it is easy to imagine a migrant working and living in a high-income nation sending back money to their family in a low-income country. But the reality is rather different.
High-income countries around the world are major receivers of remittances. Indeed, it is a surprise for many that the UK is estimated to receive billions of pounds in remittances every year. World Bank estimates even suggest that the UK consistently receives more in remittances than it sends to other countries Read More Here