These transfers, known as remittances, grew by 94 per cent between 2016 and 2025, far outpacing the 28 per cent increase in the number of migrants from those countries.
The gap shows that growth is not simply the result of more people migrating: on average, migrants abroad are sending larger amounts home. Some 220 million migrants and people from the diaspora support an estimated 1.1 billion relatives.
“This report is about financial flows of extraordinary scale. But more importantly, it is about families,” Pedro de Vasconcellos, who manages IFAD’s Financing Facility for Remittances, told reporters at UN Headquarters on Monday.
