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Remittances, defined as monetary transfers made by migrants to their home countries, play a crucial role in global economies and the livelihoods of individuals and families. In some countries, remittances account for more than 30% of the total economic output.
India is the world's top receiver of remittances, claiming more than 12% of the world's remittances in 2015. [30] [31] Indians living overseas are the world's largest diaspora. As per the Ministry of Overseas Indian Affairs (MOIA), remittance is received from the approximately 35 million members of the Indian diaspora. [32]
The GCC countries are among the top remittance sending countries in the world. In 2013, 23% of all remittances globally were sent from the GCC region. The total official value was estimated to be approximately US$90 billion. [8] In 2016, Saudi Arabia was second on the list of remittance sending countries and other GCC member states were also ...
Mexico is the third largest remittance receiving country in the world, with a total of $25.7 billion received in 2015. [3] The vast majority of these remittances come from the U.S. In all, only $500 million of the $25.7 billion in remittances came from sources other than the United States. [ 3 ]
In all, the 60 countries in the rankings represent about three-fourths of the world's population and about 90 percent of global GDP. Click through to see all 25 countries ranked:
In an assessment of all that shapes a country, from quality of life to economic potential, these countries performed the best overall. The 25 best countries in the world revealed in new ranking ...