IOM’s World Migration Report 2024: Record number of displaced people

The International Organization for Migration (IOM) launched on May 7 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.

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 $128 billion to $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, the report said.

“Migration, an intrinsic part of human history, is often overshadowed by sensationalized narratives,” the IOM said.

“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,” the organisation said. 

(Photo: EC Audiovisual Service)

The Sofia Globe staff

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