Money sent home by international migrants is almost three times as much as global foreign aid

When we think about money flowing from richer to poorer countries, foreign aid is one of the first things that comes to mind.

However, another major channel receives far less attention in mainstream conversations: the money international migrants send back to their families or bring home after working abroad. Unlike aid, which is publicly funded and often targeted at structural development, these private transfers typically aim at family support to cover critical needs such as food, healthcare, and education.

This chart shows how big that contribution is: in 2023, migrants sent or brought back $822 billion, almost three times the $288 billion provided through global foreign aid. Global foreign aid refers to net development assistance from national governments, with a very small portion coming from private donor philanthropy that meets the criteria for development assistance.

While this gives us a good sense of the size of these different flows, it’s important to note that the distribution of where each goes tends to differ. Most of the money sent home by migrants goes from high-income to middle-income countries, but low-income countries also rely on them relative to their GDP. When it comes to foreign aid, low-income countries receive almost as much money as middle-income countries.