Rent to Own

Remittance refers to the transfer of Money, often by a foreign worker to their family or friends in their home country. This process is crucial for many economies, as it provides financial support to individuals and communities.

Examples of Remittance include:

• A migrant worker in the United States sending Money back to their family in Mexico to cover living expenses.
• A student studying abroad transferring funds from their parents to pay for tuition and living costs.
• A skilled worker in the Middle East sending earnings back to their home country to invest in a small business.

Cases illustrating Remittance include:

• The Philippines, where Remittances account for a significant portion of the country’s GDP, providing crucial support to households.
• India, which is one of the largest recipients of Remittances globally, aiding in poverty reduction and economic stability.