Remittance Flows

Remittance flows refer to the money that individuals send back to their home countries, usually to support family members or communities. This often occurs when people migrate for work and earn money abroad. These financial transfers can be crucial for the economy of the recipient country, helping with daily expenses, education, and healthcare. Remittances can significantly improve the living standards of those who receive them, contributing to poverty reduction and economic stability. They are a vital source of income for many families, especially in developing nations.