<P> A remittance is a transfer of money by a foreign worker to an individual in his or her home country . Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries . Workers ' remittances are a significant part of international capital flows , especially with regard to labour - exporting countries . In 2014 , $436 billion went to developing countries , setting a new record . Overall global remittances totaled $582 billion in 2015 . Some countries , such as India and China , receive tens of billions of US dollars in remittances each year from their expatriates and diaspora . In 2014 , India received an estimated $70 billion and China an estimated $64 billion . </P>
sending money home to the native country is an example of
remittance