Proof Point
Total remittances received worldwide grew 3% annually, from $458.3 billion in 2008 to $613.5 billion in 2017, with India and China as top recipients
Global Inflow of Remittances
2008 – 2017 (US$ billions)
Proof Point Findings
- Remittances – Sum of compensation received by expatriates working in non-resident countries and funds transferred to dependents living in country of origin
- Steady Growth – Remittances received worldwide increased to $613.5 billion in 2017 from $458.3 billion in 2008, annual growth of 3%
- Top Receiving Countries – Countries with highest inflow of remittances in 2017 include India ($69 billion), China ($63.9 billion), Philippines ($32.8 billion), and Mexico ($30.6 billion)
- Key Growth Drivers – Include increase in global job opportunities, foreign migration, growing incomes, improving payment system infrastructure, more remittance services available, and rise in digital transactions
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Accelerator |
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Market Disruption |
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Sector |
Financial Services
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Source |
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Date Last Updated |
October 2, 2018
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