TRIVIA

Remittances from migrants have become increasingly important for many low- and middle-income countries. In 2021, they are estimated to have reached US$589,000 million, a 7.3% increase from 2020, according to World Bank projections. Which countries receive the most remittances?

ANSWER

D) India received the most remittances in absolute terms in 2021, with US$87,000 million, 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%.