The International Day of Family Remittances (IDFR) is celebrated on 16 June each year. Today, 16 June, we list the top 10 recipient countries for remittances.
The Day acknowledges and celebrates the resilient spirit of migrant workers and the impact their contribution makes to households, communities and regions.
Globally, 1 billion people are involved either as remittance senders or receivers.
Over 200 million migrants improve the lives of their 800 million family members back home, with hopes of creating a better future for their children. Half of these flows go to rural areas, where poverty and hunger are concentrated, and where remittances count the most.
In 2022, international remittances to low- and middle-income countries (LMICs) amounted to US$626 billion. Migrant workers send home roughly US$200-US$300 per month. Sending money is costly. The cost of transferring US$200 across international boundaries to LMICs averages 6% in the second quarter of 2022. Mobile providers offer the best rates (3.5%), but less than 1% of transactions are made through digital channels.
Watch the top 10 recipient countries for remittances in 2021 (Source: Statista)
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