Context

• On May 7, 2024, the International Organization for Migration (IOM) launched the World Migration Report 2024 in Dhaka (Bangladesh).

Key Points

• The report shows record numbers of displaced people and a huge increase in international remittances.
• UN migration agency says conflict, climate change are fueling global displacement.
• The report highlights that international migration remains a driver of human development and economic growth, with international remittances expected to increase by more than 650 percent from 2000 to 2022, from US$128 billion to US$831 billion.
• Many analysts had predicted that remittances would decline significantly due to COVID-19 but despite this, remittances continued to grow.
• It is noteworthy that out of the total remittances of 831 billion, 647 billion were sent by migrants to low and middle income countries.
• These remittances can form a significant part of the GDP of recipient countries. If we talk globally, these remittances have now even surpassed foreign direct investment in these countries.
• Although international migration is driving human development, challenges still remain.
• With an estimated 281 million international migrants worldwide, the number of persons displaced by conflict, violence, disaster and other causes has increased to the highest level in modern records, reaching 117 million, highlighting the urgency to address the displacement crisis. Underlines.
• The World Migration Report 2024 helps highlight the complexity of human mobility through evidence-based data and analysis.
• In a world facing uncertainty, understanding migration dynamics is essential for informed decision-making and effective policy responses.
• This World Migration Report advances this understanding by highlighting long-term trends and emerging challenges.

Important Facts For Exam

International Organization for Migration

• Year of formation: 6 December ,1951
• Type:Intergovernmental Organization
• Headquarters: Geneva, Switzerland
• Members :175
• Observer states :8
• Languages : English , French , Spanish