Migrant Remittances Surge by 650% Over the Past 20 Years – IOM

Amy Pope, Director-General of the International Organization for Migration (IOM), announced a remarkable 650% rise in international remittances over the past 20 years.

Speaking at the 2024 International Dialogue on Migration in Lagos, Pope highlighted the vital role of migration in boosting the global economy.

Over the past 20 years, these remittances have grown by 650%. This means that if migrants were sending $100 back home 20 years ago, they are now sending $750.

Surge in Remittances

This huge increase highlights the important role migrants play in supporting their families and economies in their home countries.

Pope revealed that remittances, which were $128 billion in 2000, have soared to $831 billion today.

Of this, remittances of $647 billion was sent to low and middle-income countries, significantly contributing to their GDP and exceeding direct foreign investments.

Migration and Sustainable Development

The dialogue, themed “Facilitating Regular Pathways to a Better Future: Harnessing the Power of Migration,” emphasized how migration drives sustainable development.

Pope explained that migration brings many benefits, such as economic growth, skill exchange, a stronger labor force, and cultural diversity.

“Our recent World Migration Report provides overwhelming evidence of these benefits,” Pope said. She pointed out that migration also affects political, social, and economic aspects in destination countries.

Pope called for investment in safe and regular migration pathways to protect migrants from exploitation and ensure their rights.

She stressed the need for policies that give migrants access to essential services in their new countries, helping them integrate smoothly.

“Regular pathways can connect people, goods, services, knowledge, and innovation safely,” Pope stated. “Poorly managed migration can harm development, so creating these pathways is a top priority for us.”

Pope urged governments and stakeholders to create programs that support and protect migrants, informing them about their rights and available services.

She emphasized that migration should be considered in all policy areas, including health, urban planning, education, fiscal policy, and trade.

“Our goal is to ensure migration and migrants’ needs are included in all policies and regulations,” she concluded.

The dialogue highlighted the crucial role of migrants in addressing global challenges like climate change and stressed the need for coordinated efforts to support them.