remittance corridors

Remittance corridors refer to the specific routes or pathways through which money is transferred from one country to another, often by migrant workers sending funds back to their families. These corridors can involve various financial institutions, like banks or money transfer services, and can be influenced by factors such as fees, regulations, and currency exchange rates. Understanding these corridors is crucial, as they help identify the flow of remittances, which play a significant role in the economies of many countries, especially developing nations that rely on this financial support from abroad.