The hidden force in global economics sending money home

Millions of people each year migrats across the different countries and risk then like to have and acvept
the job and realize their dream to send money home and help their faimly which have help them
before .

There are 232 million of infranctional migrants in the world which is larger in population then Brazil and
their economy will be larger then France .

180 million of migrants from poor countries send money to their country regularly .the surprising fact is
that 143 billion dollar of total remittances are send by the migration of 2013.which is 3 times the size of
development Aid money which is 135 billion dollar.

As we ignor remittances as small change but 200 dollar per month average is sending regular per person
by millions of migrants in 2013 India accept 72 billion dollar by remittances which is 18 billion dollar by
the Egypt. Tajkistan got 42 percent of GDP while Somalia got 35 percent of GDP as remittances.
Remittances has a positive impact an economies and poor people.as remittances actvlike insurance for
the poor people ,which is dierctly react with the poor with an the adives of people .Remittances plays
important role in the reduce poverty which is seems in Nepal from India ,in Alsaluator school drop out
rate is lower in faimlies that recives remittances in Merco and Srilanka the birth weight of children in
higher among faimlies that recives remittances .Remittances had the barriore in the their way which are
the cost of sending money home .Money transfer companies change high rates from the poor the global
average cost of sending money is 8 percent there cost barrier must be reduced which will boost the
economy . As the rates are high they sending the money in illegal ways .while sum countries like keynez
and US they started to send money only 60 percent per transiction to reduces the sending money cost .
The governament should realize the regulation and has a small remittances . They should make
partnership with post office and national banking with money transfer companies .

They should open compatition to bring down the cost like done in the rates of communication . Also a
large non profit organization should provid platform for this act . Another large barrier in way of
remittances for faimlies is the larger or huge cost of recruitments which is the fee paid to find job .

Another average paid fee to job finding agents is 4000 dollar which that job only gives 2000 dollar per
year .

Remittances palys an important role in prosperity but the cost of sending money and the other barrier
should be stoped .