“When migrants send home part of their earnings in the form of either cash or goods to support their families, these transfers are known as workers’ or migrant remittances. They have been growing rapidly in the past few years and now represent the largest source of foreign income for many developing countries”.
Source: Ratha, D. 2020. “Remittances: Funds for the Folks Back Home”. International Monetary Fund. <https://www.imf.org/external/pubs/ft/fandd/basics/remitt.htm>. Accessed 30 April 2020.