According to the World Bank (WB), the global growth rate for migrant remittances in 2024 is estimated at 5.8%, significantly higher than the 1.2% growth recorded in 2023.
Globally, around 200 million workers have left their home countries in search of better opportunities, as reported by the International Fund for Agricultural Development (IFAD).
On average, these migrant workers send between $200 and $300 per month or every two months to their countries of origin, representing only 15% of their income.
Remittances sent through formal channels to low- and middle-income countries are projected to reach $685 billion in 2024. However, the actual amount, including informal transfers, could be much higher.
According to World Bank data, Egypt is the top Arab country in terms of remittance inflows in 2024, receiving $22.7 billion. It is followed by Morocco ($12 billion), Lebanon ($5.8 billion), Jordan ($4.8 billion), and Yemen ($3.8 billion), rounding out the top five.
Tunisia ranks 6th with $2.8 billion in remittances for 2024, according to the World Bank. It is followed by Algeria ($1.94 billion), Qatar ($1.5 billion), Sudan ($1 billion), and Iraq ($879 million).
Globally, India dominates the rankings with $129.1 billion in remittances. It is followed by Mexico ($68.2 billion), China ($48 billion), the Philippines ($40.2 billion), and Pakistan ($33.2 billion). Next are Bangladesh ($26.6 billion) and Egypt, which leads the Arab region and ranks within the global top 10 with $22.7 billion. The list is completed by Guatemala ($21.6 billion), Nigeria ($19.8 billion), and Uzbekistan ($16.6 billion).
For context, the United States was the largest sender of remittances in 2023 (2024 report not yet published) with $93 billion. It is followed by the United Arab Emirates ($38.5 billion), Saudi Arabia ($38.4 billion), Switzerland ($37 billion), and Germany ($21 billion).
Among Arab countries, the top five remittance senders in 2023 were: the United Arab Emirates ($38.5 billion), Saudi Arabia ($38.4 billion), Kuwait ($12.7 billion), Qatar ($11.8 billion), and Oman ($9.4 billion).
