Tuesday 21 August 2007

Migrant Cash Is World Economic Giant

By WILLIAM J. KOLE (Associated Press Writer)
From Associated PressAugust 18, 2007 11:13 PM EDT

TIRANA, Albania - Josif Poro pats his new sofa, points with pride to his carpets and runs a wrinkled hand over a gleaming white refrigerator. He and his wife barely scrape by on their $220 monthly pension. They'd have to do without many of the items in their cramped apartment if their son, a factory worker in Greece, didn't faithfully send home part of his earnings.
"We call him our golden boy," said Poro, 83, a retired textile mill worker.
Around the world, millions of immigrants are sending billions of dollars back home.

One sweaty wad of bills or $200 Western Union moneygram at a time, they form what could be called Immigration, Inc. - one of the biggest businesses on the planet. [Read more]

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