"The number of people in the world who live outside the country of their birth has risen from 153m in 1990 to 270m last year according to the World Bank, swelling global remittance payments from a trickle to a flood. As migration has increased, these financial snail-trails have become one of the defining trends of the past quarter-century of globalisation -- the private, informal, personal face of global capital flows. For many developing economies, it is a lifeline. [...] Some governments have sought to channel remittances into development efforts; Indonesia is the latest country to consider a “diaspora bond” in a bid to tap the savings of its wealthier overseas residents."
31 August 2019
Remittance Flows ~ FT Infographic on Pathways
The FT writes about Remittances: the hidden engine of globalisation...