Knowra Remittance Remittance A remittance is money sent by migrants to people or institutions in their place of origin. It can support household expenses, investment, and community projects.
Money transfer : The movement of money between people, businesses, or accounts through cash, banks, or payment systems. Remittances are a cross-border form of money transfer, delivered through several competing channels.
Household consumption : The spending by individuals or families on goods and services for their own use. Recipients commonly use remittance income for food, housing, healthcare, and education.
Remittance cost : The fees and exchange-rate margins paid to send a cross-border money transfer. High charges reduce the amount households receive from each remittance.
Foreign direct investment : A cross-border investment that gives an investor lasting interest or significant influence in a foreign enterprise. Unlike household transfers, this flow is directed toward ownership or control of productive assets.
Remittance corridor : A route for money transfers between a particular sending country and receiving country. Transfer costs and available services vary sharply between specific country pairs.
Financial inclusion : Access to useful, affordable financial products and services for individuals and businesses. Receiving transfers can connect households to accounts, savings, and other formal financial services.
Remittance dependence : A condition in which households or economies rely heavily on money sent from abroad. Dependence can make livelihoods vulnerable to disruptions in migrant employment or transfer channels.
Official development assistance : Government aid that meets agreed criteria for supporting the economic development and welfare of developing countries. This public, policy-governed flow differs from migrants’ private transfers to people or institutions.
Money transfer operator : A nonbank company that sends or receives payments, often through a network of agents or digital services. These firms provide a major channel for migrants sending money to households abroad.
Diaspora investment : Investment in a place of origin by people living abroad and their networks. Some migrants channel money beyond household support into businesses and local projects.
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