What are the benefits and detriments of economies dependent on migrant remittances?
What are the benefits and detriments of economies dependent on migrant remittances? When we say remittances it tells about of course financial or monetary remittances and this is generally a private money transfer that migrants made individually or collectively generally back to their country of origin. It is possible for transfers to be sent from countries of origin to countries of destination. Migrants travel because of economic reasons they move to make an improvement not just for their own lives but also for the lives of their own families. They give aid and improve the lives of their family, community, and even their country through their remittances. Remittances may also be detrimental to economies that depend on remittances. Remittances help the economies, and there are lots of benefits from remittances. First remittances support economic growth. The remittances can increase household income and thus like it can be used to alleviate p...