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A Remittance  is exchange of money by a foreign worker, a member of a diaspora public, or a citizen with ancestral ties abroad, for domestic income in their home country or homeland. Money sent home by migrants contends with international aid as one of the major financial inflows to developing countries. Workers’ Remittance s is a vital part of international capital flows, particularly with regard to labor-exporting countries.

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The World Bank defines a Remittance  as “the sum of money that migrant workers send to their home country”. Remittance s can be sent in cash, through wire transfers, or through money transfer operators. They can be used to pay for basic necessities, such as food, dress, and shelter, or they can be used to invest in education, healthcare, or businesses.

Remittance s have a vital impact on the economies of developing countries. They can help to decrease poverty, improve living standards, and boost economic growth. They can also help to stabilize exchange rates and reduce inflation.

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