Officially recorded remittance flows to developing countries are estimated to increase by 6 percent to 25 billion in 2010. This marks a healthy recovery from a 5.5 percent decline registered in 2009. Remittance flows are expected to increase by 6.2 percent in 2011 and 8.1 percent in 2012, to reach 74 billion by 2012. This outlook for remittance flows, however, is subject to the risks of a fragile global economic recovery, volatile currency and commodity price movements, and rising anti-immigration sentiment in many destination countries. From a medium-term view, three major trends are apparent: (a) a high level of unemployment in the migrant-receiving countries has prompted restrictions on new immigration
(b) the application of mobile phone technology for domestic remittances has failed to spread to cross-border remittances
and (c) developing countries are becoming more aware of the potential for leveraging remittances and diaspora wealth for raising development finance.