• International remittances surged by 650 per cent, from USD 128 billion to USD 831 billion between 2000 and 2022. 
• Migrant remittances surpass foreign direct investment in boosting the GDP of developing nations. 
• 281 million international migrants globally; number of those displaced hit a record high by the end of 2022 at 117 million.

The International Organization for Migration (IOM) launched the World Migration Report 2024, which reveals significant shifts in global migration patterns, including a record number of displaced people and a major increase in international remittances.  

IOM Director General Amy Pope formally released the report in Bangladesh, which stands at the forefront of migration challenges, including emigration, immigration and displacement.   
“The World Migration Report 2024 helps demystify the complexity of human mobility through evidence-based data and analysis,” IOM Director General Amy 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.” 

The report highlights that international migration remains a driver of human development and economic growth, highlighted by a more than 650 per cent increase in international remittances from 2000 to 2022, rising from USD 128 billion to USD 831 billion. The growth continued despite predictions from many analysts that remittances would decrease substantially because of COVID-19.  

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. 

Highlighting key findings, the report reveals that while international migration continues to drive human development, challenges persist. 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.  

IOM’s 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.  

"We hope the report inspires collaborative efforts to harness the potential of migration as a driver for human development and global prosperity," DG Pope said. 

To access the World Migration Report 2024, visit World Migration Report | International Organization for Migration, IOM