Remittance Trends 2007
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World Bank, Washington, DC
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This note describes broad regional and
country specific trends in remittance flows worldwide, and
highlights some structural changes that will affect
remittance flows in the future. The main messages are:
remittance flows to Latin America and the Caribbean slowed
on the back of a weakening U.S. economy and tighter
enforcement of immigration laws. Nevertheless, the growth of
remittances to developing countries remains robust because
of strong growth in Europe and Asia. The remittance industry
is experiencing some positive structural changes with the
advent of cell phone and internet-based remittance
instruments. These changes may have profound effects on
remittance flows to previously underserved areas. The
diffusion of these structural changes, however, is slowed by
a lack of clarity on key regulations (including those
relating to money laundering and other financial crimes).
Remittance costs have fallen, but not far enough, especially
in the South-South corridors.
Palabras clave
ACCOUNT-TO-ACCOUNT, ACCOUNTING, ANNUAL GROWTH, ANTI-MONEY LAUNDERING, AVERAGE REMITTANCE, BALANCE OF PAYMENTS, BALANCE OF PAYMENTS MANUAL, BALANCE OF PAYMENTS STATISTICS, BANK ACCOUNTS, BANKING SERVICE, BANKING SERVICES, BANKS, CAPITAL FLOWS, CENTRAL BANKS, CLARITY, COMMERCIAL BANKS, COMPENSATION OF EMPLOYEES, CONSUMER LOANS, CREDIT UNIONS, DATA ON REMITTANCES, DEBT, DEPOSIT, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT ASSISTANCE, DEVELOPMENT FINANCE, DOCUMENTATION REQUIREMENTS, EXTERNAL FINANCING, FINANCIAL PRODUCTS, FINANCIAL SERVICES, FLOWS OF REMITTANCES, FOREIGN DIRECT INVESTMENT, FOREIGN EXCHANGE, FOREIGN EXCHANGE EARNINGS, GENERAL EQUILIBRIUM, GLOBAL DEVELOPMENT FINANCE, GROWTH OF REMITTANCES, GROWTH RATE, HIGH-INCOME COUNTRIES, HOUSEHOLDS, INCOME, INFORMAL CHANNELS, INTERNATIONAL REMITTANCES, INVESTMENT FLOWS, INVESTMENT OPPORTUNITIES, INVESTMENT PURPOSES, JOB OPPORTUNITIES, LATIN AMERICAN, LOW-INCOME COUNTRIES, MIGRANT LABOR, MIGRANT TRANSFERS, MIGRANT WORKERS, MIGRANTS, MOBILE PHONE, MOBILE PHONES, MONEY HOME, MONEY LAUNDERING, MONEY TRANSFER, MONEY TRANSFER OPERATORS, MONEY TRANSFERS, MORTGAGE, MORTGAGE LOANS, OIL PRICES, PERSONAL REMITTANCES, PORTFOLIO, PRIVATE DEBT, RATE OF GROWTH, RECIPIENT COUNTRIES, RECIPIENTS OF REMITTANCES, REMITTANCE, REMITTANCE CORRIDORS, REMITTANCE COSTS, REMITTANCE CUSTOMERS, REMITTANCE DATA, REMITTANCE FLOWS, REMITTANCE INDUSTRY, REMITTANCE INFLOWS, REMITTANCE SERVICE, REMITTANCE SERVICE PROVIDERS, REMITTANCE SERVICES, REMITTANCES, SEASONAL MIGRANTS, SEND REMITTANCES, SLOWDOWN, STOCKS, STRONG DEMAND, SUB-SAHARAN AFRICA, TERRORISM, TRANSFER SERVICE, UNION, UNRECORDED REMITTANCES, WORLD DEVELOPMENT INDICATORS