Do you send money to Nigeria? According to a press release from the United Nations Conference on Trade and Development (UNCTAD), people from developing countries work abroad and send remittances home. People send a total of $27 billion in remittances for the year 2011. The remittances are generally utilized to meet the financial obligations, thereby improving the economies of the receiving countries.
The UNCTAD report concluded that 48 least developed countries (LDCs) should initiate platforms for money transfer and improve financial services. As a result, an unprecedented proportion will send money transfers to their homeland with convenience. ACE Money Transfer allows you to send an instant online money transfer to Nigeria, to support livelihood and meet other financial obligations.
The government of least developed countries should focus and devise specific policies to entertain the flow of international remittances. ACE Money Transfer provides competitive exchange rates and reduced transaction costs. For further details, check out ACE Money Transfer and find out reliable ways to transfer money overseas.
Contribute to Economic Progress & Development
People move out to developed countries for employment opportunities, as they tend to have powerful economies. People earning in countries with strong economies send money to support families in their homeland. The increased number of remittances, therefore, promotes economic development within underdeveloped countries.
A considerable number of remittances are consumed to fulfil the mandatory financial requirements. Not to neglect the fact that many people are relying on international remittances to fund living necessities. As time passes, a notable surge in remittances can be experienced, from developed countries to underdeveloped countries.
If you wish to send money to Nigeria online, ACE Money Transfer is the right decision. ACE offers secure and convenient international transfer of funds worldwide. You can send money with ACE and contribute your share towards economic development.
Benefits of Remittances to Underdeveloped Countries
There are numerous advantages of international remittances. A large sum of international remittances is employed for investment and startup opportunities based on a recent survey analysis. The government of underdeveloped countries should strive to deliver quality money transfer platforms.
As it will encourage frequent and regular money transfers from overseas to developing countries, the positive aspect of international remittances is the investment perspective. With increased investments, new and innovative startups, including multiple business opportunities, can be managed across the country.
If you are an Overseas Pakistani scanning for a reliable money transfer provider, you can always count on ACE Money Transfer for online money transfer to Pakistan. When people send money to invest in countries with a poor economy, the remittances ultimately act as a catalyst for economic development.
Impact of International Remittances on Economic Development
When underdeveloped countries receive international remittances from developed countries, the remittance is mainly used to uplift people’s living standards. The remittances, therefore, promote progress and development among developing countries. When the people of any country are financially stable, the economy of the country endeavours to journey towards stability as well.
Also, it greatly aids in the reduction of poverty and helps support social & financial development. If you are about to send an online money transfer to Nigeria. You should try ACE Money Transfer for swift & instant remittance transactions. Better competitive exchange rates and low transactional costs save you a large sum of money while sending money overseas.
As a result of the above discussion, it is evident that appropriate channels for international money transfers are reasonably significant. Countries with low economies should work on developing money transfer platforms for receiving international remittances.
Also, the money transfer providers should offer multiple means of payments to entertain the maximum range of customers. For an online money transfer to Pakistan, ACE stands recognized in the remittance industry. ACE Money Transfer- an emerging leader in the remittance industry, strives to deliver proficient money transfer services to Pakistan.