India tops remittances recipient list

India tops remittances recipient list

New figures from the World Bank show that Indian workers abroad sent home $27bn (£13.6bn), the highest number amongst recipient nations. The top five countries to receive workers’ remittances were China with $25.7bn, Mexico's $25bn, the Philippines at $17bn and France with $12.5bn.

The World Bank estimated global remittances in 2007 at $318bn of which $240bn went to developing countries. The top remittance sender was, again, the US with $42bn in recorded outward flows, followed by Saudi Arabia, Switzerland and Germany. Further details revealed were that international remittances from migrant workers are three times as large as the official government aid to developing countries.