The World's Top Remittance Recipients

The World's Top Remittance Recipients

According to #WorldBank data published earlier this year, #globalremittances totalled $689 billion in 2018, up from $633 billion in 2017. Of that total, $529 billion flowed into low and middle-income countries. The upsurge in #remittances was driven by increasing oil prices and stronger economic conditions in the United States and it was particularly evident in South Asia where growth came to 12 percent. #India has seen a steady increase in remittances in recent years and they climbed from $62.7 billion in 2016 to $65.3 billion in 2017.

Its huge diaspora helped it maintain its position last year with migrants sending a whopping $79 billion back home to India. The World Bank attributed some of that 14 percent growth to flooding in #Kerala which likely prompted migrants to send more financial aid to their families. #China also boasts a massive diaspora and it comes second on the list with $67 billion. The top three was rounded off by #Mexico with $36 billion.


by 

Niall McCarthy