They may fund everyday expenses or projects. The statistical measure of personal remittances can be broader, including some compensation of employees.
Diaspora remittances
In a nutshell
Diaspora remittances are funds sent by people living abroad to households in their country of origin.
On this page
Explained simply
A practical example
Hypothetical example: someone living in France sends the equivalent of CFA 100,000 to family in Mali; fees may reduce the amount received.
Further reading
Source: World Bank — Personal remittances.
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What this means
Sending CFA 100,000 with a CFA 2,000 fee on top costs the sender CFA 102,000.
Educational scenarios. Amounts and rates are fictional, not current market conditions.