Ranked: The Countries Receiving the Most Remittances From Abroad

Visual Capitalist

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June 16, 2024 Graphics/Design:

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The Countries Receiving the Most Remittances From Abroad

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We chart the top countries by money received from abroad, in current U.S. dollars, based on 2000-2023 data from Knomad.

Specifically, these transfer totals shown represent personal remittances, or money sent between residents and non-residents, including personal transfers and compensation for work done abroad. It does not include, and is separate from, foreign investment.

Top 10 Countries by Personal Remittances Received (2000-2023)

The Indian diaspora—measuring nearly 18 million people—collectively sent more than $125 billion back to the country in 2023. In fact, India became the first country to ever receive more than $100 billion in personal remittances in 2022.

Top Countries Receiving
Money From Abroad2000 Top Countries Receiving
Money From Abroad2023e 🇮🇳 India$13B🇮🇳 India$125B 🇫🇷 France$9B🇲🇽 Mexico$67B 🇲🇽 Mexico$8B🇨🇳 China$50B 🇵🇭 Philippines$7B🇵🇭 Philippines$40B 🇬🇧 UK$5B🇫🇷 France$34B 🇹🇷 Türkiye$5B🇵🇰 Pakistan$24B 🇰🇷 South Korea$5B🇪🇬 Egypt$24B 🇺🇸 U.S.$4B🇧🇩 Bangladesh$23B 🇵🇹 Portugal$4B🇳🇬 Nigeria$21B 🇩🇪 Germany$4B🇬🇹 Guatemala$20B
Note: 2023 figures are estimates. All numbers rounded.

For context, India’s remittances received adds to more than the next two countries, Mexico ($67 billion) and China ($50 billion) combined.

Meanwhile, over the last two decades, the top 10 has seen a major shift. Countries from Europe have fallen out, replaced by Asian and African countries with big diaspora communities.

And the countries they’ve replaced—France, UK, Germany—are now some of the top destinations for immigration, from where remittances are usually sent.

The UN states that at least one in nine people globally are supported by funds received from abroad, and half of the amount ends up in rural areas, where some of the world’s poorest people live. This also makes remittances three times more important than international aid.

On a global scale, personal inbound remittances have risen seven times between 2000 and 2023.

The full article is available here. This article was published at Visual Capitalist.