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India - Top Remittance Recipient in the World!
By: Tupaki Desk | 5 Oct 2017 5:56 AM GMT
World Bank's latest report confirms India is likely to retain its position as World's top remittance recipient in 2017. As per an estimate, The Indian diaspora will be pumping anywhere around USD 65 billion in this year & that's 4.2 percent more when compared to last year.
In 2016, India received Remittances (a sum of money sent either as payment or gift) of USD 62.7 billion.
China is so close to India in remittances with USD 61 billion. Rest of the Nations in the Top 5 list are far away from these most populous countries. Remittances of Philippines, Mexico and Nigeria amount to USD 33 billion, USD 31 billion and USD 22 billion respectively.
Experts consider Remittances as the lifeline for developing nations. Shockingly, Indian workers outflow fell to 506,000 in 2016 from 781,000 in 2015.
In 2016, India received Remittances (a sum of money sent either as payment or gift) of USD 62.7 billion.
China is so close to India in remittances with USD 61 billion. Rest of the Nations in the Top 5 list are far away from these most populous countries. Remittances of Philippines, Mexico and Nigeria amount to USD 33 billion, USD 31 billion and USD 22 billion respectively.
Experts consider Remittances as the lifeline for developing nations. Shockingly, Indian workers outflow fell to 506,000 in 2016 from 781,000 in 2015.
