The International Organization for Migration (IOM) has said that international migration remains a driver of human development and economic growth despite predictions from many analysts that remittances would decrease substantially because of COVID-19.
"Despite predictions from many analysts, the growth continued, it is a more than 650 percent increase in international remittances from 2000 to 2022, rising from USD 128 billion to USD 831 billion," according to a new global report released on Tuesday today.
The International Organization for Migration (IOM) launched the World Migration Report 2024 at a local hotel here, IOM Director General Amy Pope formally released the report in Bangladesh, which stands at the "forefront of migration" challenges, including emigration, immigration and displacement.
"We hope the report inspires collaborative efforts to harness the potential of migration as a driver for human development and global prosperity," IOM Director General Amy Pope said.
By choosing Dhaka as the reports launch site, IOM not only highlights the countrys efforts in supporting vulnerable migrants and fostering pathways for regular migration but also recognizes Bangladeshs important role in shaping global migration discourse and policy, IOM said.
Foreign Minister Dr Hasan Mahmud, Chief of IOM Mission in Bangladesh Abdusattor Esoev, former Foreign Secretary Shahidul Haque, senior government officials and diplomats stationed in Dhaka were present at the report launching ceremony.
As a Global Compact for Safe, Orderly, and Regular Migration Champion country, Bangladesh has demonstrated a strong commitment to addressing migration issues and implementing policies that safeguard migrants rights, it said.
said as one of the GCM champion countries, Bangladesh will not only continue to act upon the pledges it has made for its domestic context but would also take up emerging issues and challenges pertaining to migration and development for informed deliberations at the international level.
"The World Migration Report 2024 helps demystify the complexity of human mobility through evidence-based data and analysis," Pope said at the launch.
"In a world grappling with uncertainty, understanding migration dynamics is essential for informed decision-making and effective policy responses, and the World Migration Report advances this understanding by shedding light on longstanding trends and emerging challenges."
Of that 831 billion in remittances, 647 billion were sent by migrants to low and middle-income countries. These remittances can constitute a significant portion of those countries GDPs, and globally, these remittances now surpass foreign direct investment in those countries.
With an estimated 281 million international migrants worldwide, the number of displaced individuals due to conflict, violence, disaster, and other reasons has surged to the highest levels in modern-day records, reaching 117 million, underscoring the urgency of addressing displacement crises.
Migration, an intrinsic part of human history, is often overshadowed by sensationalized narratives.
However, the reality is far more nuanced than what captures headlines.
Most migration is regular, safe, and regionally focused, directly linked to opportunities and livelihoods.
Yet, misinformation and politicization have clouded public discourse, necessitating a clear and accurate portrayal of migration dynamics.
IOMs World Migration Report, with its innovative digital tools and comprehensive analysis, aims to help dispel myths, provide critical insights, and inspire meaningful action in addressing the challenges and opportunities of human mobility.
Highlighting key findings, the report reveals that while international migration continues to drive human development, challenges persist. the report reveals significant shifts in global migration patterns, including a record number of displaced people and a major increase in international remittances.
