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This paper provides a theoretical framework for estimating the labor migration impact on the economy of sending country. The overall emigration impact includes two effects, which can be calculated separately, i.e., a departure effect and a remittances effect. The departure effect causes a negative impact on the economy by decreasing autonomous consumption. The remittances effect causes a positive impact by increasing disposable income and thus internal consumption and savings and imports. Calculations include the multiplier effect.

In the article, the influence of remittances on economics growth in Ukraine was researched. In order to conduct the research the logistics regression was applied. Volumes of consumption, export and import were included into the logistics model as variables, which contribute to calculation of GDP. By changing remittances, we identified their level, which will lead to GDP growth. Specifically, it was found out that economic growth would be achieved if remittances will increase by 2% ceteris paribus.