WORLD MIGRATION REPORT (Syllabus: GS Paper 3 – Economy)

Context: India, recently noted as the origin of the largest number of international migrants, nearly 18 million, maintains significant diasporas in the UAE, US, and Saudi Arabia, while also leading as the top recipient of remittances as per World Migration Report, 2024.

Key Findings of World Migration Report, 2024

• Released by: The International Organization for Migration (IOM).
• Leading Remittance: According to the World Migration Report 2024, India, Mexico, and China were the top three recipients of remittances in 2022.
• India's Remittances: India led in 2022 remittances, surpassing USD 111 billion, with substantial contributions from Southern Asia, Pakistan, Bangladesh, and Gulf States.
• Challenges Faced by Migrant Workers: Migrant workers encounter challenges such as financial exploitation and workplace mistreatment, particularly in the Gulf Cooperation Council (GCC) States.
• Top Migrant Origin: India emerged as the top migrant origin, receiving $111 billion in 2022, with Mexico ($61 billion) and China ($51 billion) following suit. Migration corridors data was analyzed, highlighting the Indian diaspora's presence in the UAE, US, and Saudi Arabia.

Remittance 

• About: It is comprised of worker’s remittances, compensation of employees, and migrants’ transfers as documented in the IMF Balance of Payments.
• Worker's Remittances: These are current transfers made by migrants who are regarded as residents in the source country.
• Significance for Low and Middle-Income Countries: Remittances serve as a crucial source of household income in low and middle-income nations.