What are the benefits and detriments of economies dependent on migrant remittance?

BENEFITS
- Remittances help in improving the families’ economic and living conditions.
- Provides adequate healthcare as well as other amenities such as education and
hygiene.
- Helps in obtaining asset and business investments.
 Remittances help recipient households to increase spending on essential goods
and services, invest in healthcare and education, as well as allowing them to build
their assets, both liquid (cash) and fixed (property), enhancing access to financial
services and investment opportunities.
 Studies have shown that remittances can reduce the depth and severity of
poverty in developing countries, and that they’re associated with increased
household spending on health, education and small business. 
 Although remittances slowed during the pandemic, they remained more resilient
than other private capital flows, making them even more important as a source of
foreign inflows for receiving countries. 
 One advantage is that a very few workers can sustain a large number of people and
the country of origin does not have to build any commercial base or the necessary
infrastructure. 
DETRIMENTS
- Include reduced labor supply in the case of migrants and migrants boost demand and
cause price hikes.
- aside from that, one significant disadvantage is that remittances increase the country’s
market competition.
 BRAIN DRAIN - Global migration is eligible skimming staff, [and] removed Dynamic
Boy labor force
 HUMAN TRAFFICKING - third largest criminal activity worldwide, with 21 million
men, women, and children as victims of “forced labor”
 A big downside is that the remittances can stop very quickly for a variety of political,
commercial or health reasons.