2012 Remittance Flows
The growth of remittances is expected to be stronger during 2013-15. We expect growth of flows to remain robust in regions that rely on remittance flows from the US, the GCC, and Russia. Increasingly harsh rhetoric and policies hostile towards migrants in many destination countries, especially Europe, however, could discourage the flow of migrants in the future and subsequently weaken remittance flows. The estimated growth of remittances in 2012 is slightly lower, and forecasts for 2013-15 higher, than the forecasts reported earlier this year in Migration and Development Brief 18. The revision reflects updated economic projections by the World Bank for major remittance source countries in Europe, the Gulf Cooperation Council (GCC) countries, Russia and the United States.
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