Directed by James Heer
One in ten people on the planet either send or receive money from abroad.
There have always been economic migrants-people who swap regions, countries, even continents-to find better wages to pay for a better life. One out of every ten people on the planet either sends or receives money from abroad. And unlike all other forms of financial aid that travels into developing countries, remittances go directly to the poor. Worldwide, it's estimated that amounts to a staggering two hundred billion dollars a year.
With the scent of serious money, some banks are getting involved. And that could lead to a reduction in costs, as well as a change in how remittances are transferred. Aiding the flow of money to poor rural areas may be the most important effect in the current transformation of the remittance market. What impact can this have on the fight against poverty? To find out more, Life travels to the United States and El Salvador to uncover this hidden economy.
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