migrant remittances

Migrant remittances are money that people working abroad send back to their families or communities in their home countries. These funds help support daily living expenses, education, healthcare, and infrastructure. Remittances are a vital source of income for many developing countries, often surpassing foreign aid or investment. They reflect the economic ties between migrants and their homeland, and their flow can influence local economies, currency stability, and social welfare. Overall, remittances play a crucial role in promoting economic development and improving living standards in recipient countries.