English: Migrants send and bring back much more money than the total global foreign aid
The amount of transfers sent or brought back by migrants adds up a massive amount. To see how much, let’s compare it to foreign aid.
Foreign aid is money transferred from one country to another, usually to support people in a lower-income country. It’s often seen as one of the largest efforts to redistribute wealth around the world.
However, as the chart below shows, the amount of money sent or brought back by migrants was more than three times larger than foreign aid in 2021. We don’t often hear about these flows, but their scale is far bigger.
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Captions
The amount of money sent or brought back by migrants was more than three times larger than foreign aid in 2021.
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