World’s Top Remittance Recipients

With over $589 billion transferred in 2021, a 7.3% increase over 2020, the global remittance industry is massive. The World Bank defines remittances as “the sum of personal transfers, compensation of employees, and property income (interest, dividends, capital gains) to residents from nonresidents”. The data is ranked by total remittances for the year 2021. 

According to the World Bank, India is the world’s top remittance recipient, with over $87 billion received in 2021, with the United States being the largest source, accounting for more than 20% of these funds. The top three countries in this category are all developing nations, with India trailing China and Mexico.

“A key component of government policies to support a global recovery from the pandemic should be to facilitate the flow of remittances to provide relief to strained household budgets,” said Michal Rutkowski, World Bank Global Director for Social Protection and Jobs.