Remittances Grow in Developing Countries

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.

Remittances flows to low and middle income countries.

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.