The study makes a contribution to the newly emerged debate on migration and development. The paper is divided into three sections: The first focuses on the financial flows associated with international migration. The second section is concerned with diasporas and how these can be mobilized to the extent that they benefit the communities of origin. The final part draws a number of conclusions on the impact of migration on poverty. In the first part, Graeme Hugo goes through research findings asking if remittances have any serious impact on redistribution of wealth from North to South, examining the effects at aggregate, regional and community levels as well as on household welfare. He also points out that in some cases the share of money transfers sent through official channels is strikingly low, as according to estimates, in Pakistan only USD 1 billion, out of a total of 8–10 billion would be remitted through official channels.Hugo goes on showing how recent research proves that the consequences of the outflow of human capital for less developed countries are not always negative but more complex. This paper shows how several Asian countries have been able to mobilize their diasporas to benefit development in the countries of origin.