Remittances to low and middle income countries are projected to reach a new world record, states the World Bank’s Migration and Development Brief December 2018.
According to the brief, remittance to developing nations is estimated to reach $528 billion by the end of 2018, which is a robust 7.8% growth since 2017. On the other hand, global remittances, including the developed nations, are expected to increase by 10.3% and reach to $689 billion.
In addition to this, future remittance is also expected to grow to the developing countries. In 2019, the figures are estimated to grow by 4% and reach $549 billion. On the other hand, global remittance will grow by 3.7% and reach $715 billion in 2019.
Find out more about remittance figures and trends here, Accelerated remittances growth to low- and middle-income countries in 2018.