India continues to maintain its dominance as the world’s largest recipient of remittances.
The country has drawn USD 78.6 billion revenues from its overseas community in 2018, accounting to 14% of the global remittance revenues of USD 689 billion.
The United Nations World Migration Report 2020 revealed this on November 27, 2019.
China stood next in the list USD 67.41 billion, making up to 5.4% of the global remittance revenues, followed by Mexico (USD 26.2 billion).
Indians make up the world’s largest overseas community with 17.5 million across different nations, as of mid-2019.
The country was also the top remittance recipient in 2010 and 2015, with a 14% rise in inward revenues from USD 53.48 billion in 2010 to USD 68.91 billion by 2015.
Overall, the country’s remittances revenues have grown 47% from 2010 to 2018.
Top Remittance Recipients and Growth (2015-18)
|Country||Remittance (2015) in USD Billion||Remittance (2018) in USD Billion||Growth over 3 Yrs (%)|
Top Remittance Senders (As per the report)
|Country||Remittance (in USD billion)|
Indian Diaspora Across Countries – Top-3
|Country||Indian Population (in millions)|
|Across the World||17.5|
See the ‘World Migration 2020’ Report here