TRIVIA

Remittances from migrants have become increasingly important for many low- and middle-income countries. In 2021, they are expected to reach US$589 billion, 7.3% more than in 2020, according to World Bank projections. Which countries receive the most remittances?

ANSWER

D) India is the country that received the most remittances in absolute terms in 2021, with US$87 billion in 2021, followed by China, Mexico, the Philippines, and Egypt. As a percentage of GDP, smaller economies top the ranking: Tonga, Lebanon, Kyrgyzstan, Tajikistan, and Honduras. Last year, remittances tripled the amount allocated to international aid worldwide and, excluding China, exceeded global foreign direct investment flows by 50%.