According to the latest edition of the World Bank’s Migration and Development Brief,India has retained its position as the world’s top recipient of remittances with its diaspora sending a whopping $79 billion back home in 2018.
- among countries, the top remittance recipients were India with $79 billion, followed by China ($67 billion), Mexico ($36 billion), the Philippines ($34 billion), and Egypt ($29 billion).
- In Pakistan, remittance growth was moderate (7%), due to significant declines in inflows from Saudi Arabia, its largest remittance source.
- In Bangladesh, remittances showed a brisk uptick in 2018 (15%).
- Remittances grew by more than 14% in India, where a flooding disaster in Kerala likely boosted the financial help that migrants sent to families. India received $62.7 billion in 2016 and $65.3 billion in 2017 from remittances.
World Bank’s Migration and Development Brief
- This is prepared by the Migration and Remittances Unit, Development Economics (DEC)– the premier research and data arm of the World Bank. .
- The brief aims to provide an update on key developments in the area of migration and remittance flows and related policies over the past six months.
- It also provides medium-term projections of remittance flows to developing countries..
- The brief is produced twice a year.