2

Harnessing the Remittance Boom

ROME – For more than a decade, Asia’s economies have been on the move – and so have its people. The scale of migration from rural to urban areas and across international borders is historically unprecedented, and twenty-first-century Asia is its focal point.

In Asia’s developing countries, the power and potential of remittances – the money that migrant workers send home to their families (many of whom live in poor and remote areas) – is immense. Currently, over 60 million migrant workers from the Asia/Pacific region account for more than half of all remittance flows to developing countries, sending home about $260 billion in 2012.