Thursday, November 17, 2005

Migrants Choosing the E.U. Over The U.S.

"Immigration and migration are among the hottest political topics today, particularly in Europe and the US. The World Bank is to be congratulated for having highlighted one issue in a report issued this week: the economics of money transfers by immigrants to their countries of origin. The figures revealed in the report are staggering, particularly the $167bn (£96bn, €142bn) that flowed to developing countries last year. These are just the official numbers. The real amounts may be larger.

The top destination for migrants is the European Union, currently with 71m, followed by the US with more than 40m. The top recipient countries of recorded remittances in the year were India with $21.7bn, China $21.2bn and Mexico $18bn. For some smaller, poorer countries, remittances amounted to more than 20 per cent of their gross domestic product. Worldwide, remittances are now growing at 8-9 per cent per annum."

Norman Lamont "Remittances are effective weapon against poverty" Financial Times, November 16, 2005.

Also see,

Part of the small, newly restored Old Town district of Minsk, Belarus.
[Click on picture for greater detail.]

Both Warsaw, Poland and Minsk, Belarus were virtually leveled by the Nazis during the Second World War. While Warsaw carefully rebuilt its two Old Towns starting in the 1950s (based upon 18th c. paintings in the Polish National Collection by Bernardo Bellotto -- Canaletto's nephew), Minsk rebuilt its smaller Old Town area in celebration of the city's 900th Anniversary in 1996.

Photo credit: Embassy of Belarus to Poland.


Post a Comment

<< Home