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Remittances Contribute to the Elimination of Poverty


As modern technology continues to increase its impact on the lives of mankind, the concept of global village is increasingly becoming a reality and inter-regional interactions are becoming more convenient and frequent with the passage of time. With the advent of modern travelling facilities, working at distant locations far from the place of origin has become a common happening. The practice of migrating from developing countries to developed countries for the sake of earning raises a lot of questions regarding the beneficial or detrimental effects of such earnings and remittances. The increasing trend of this kind of income directed the attention of researchers and economists towards the causes and effects of this increase.


Remittances sent across the world by migrants are a major source of income for millions of families throughout the world. This money is not only involved in supporting individual families, but its positive effects are also seen on social levels in different forms which may include improvements in health, education, sanitation and improvements in life standards. Recent deterioration of world economies has resulted in the loss of millions of jobs of migrants who were previously successfully supporting their families. As a result, the life standard of millions of dependents has also deteriorated.

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