Why is it in the News?

According to the recently released World Migration Report 2024, which is published by the International Organization for Migration (IOM), India has consistently been the top recipient of remittances globally.

Key Highlights of the World Migration Report 2024:

• Resilience Amidst COVID-19: Despite the challenges posed by the COVID-19 pandemic, international migration remains a vital driver of human development and economic progress.
  • Notably, there has been a remarkable over 650 per cent surge in international remittances from 2000 to 2022, soaring from USD 128 billion to USD 831 billion.
  • This growth defied predictions of a substantial decrease in remittances due to COVID-19.
• Remittances to Low and Middle-income Countries: Out of the total remittances, which amounted to USD 831 billion, a significant portion of USD 647 billion was sent by migrants to low and middle-income countries.
  • These remittances play a crucial role in the GDPs of these nations, surpassing foreign direct investment globally.
• Persistent Challenges: While international migration continues to foster human development, the report underscores enduring challenges.
  • The global population of international migrants has reached approximately 281 million, while the number of individuals displaced by conflict, violence, disasters, and other factors has surged to a record high of 117 million.
  • Urgent action is imperative to address displacement crises effectively.
• Misinformation and Politicization: Despite the fact that most migration is regular, safe, and regionally focused, public discourse has been clouded by misinformation and politicization.
  • It is essential to provide a clear and accurate depiction of migration dynamics to counteract this trend.

About the International Organization for Migration (IOM):

• Established in 1951, IOM, the UN Migration Agency, is the leading inter-governmental organization in the field of migration and works closely with governmental, intergovernmental and non-governmental partners.
• IOM works to help ensure the orderly and humane management of migration, promote international cooperation on migration issues, assist in the search for practical solutions to migration problems and provide humanitarian assistance to migrants in need, including refugees and internally displaced people.
• Membership: Currently, IOM counts 175 Member States and 8 states with Observer status.
• India joined as an IOM Member State on June 18, 2008.
• Headquarters: Situated in Geneva, Switzerland, IOM's headquarters serves as a hub for its global operations.