The world’s migrants tend to send huge amounts of money back home to their families through cross-border money transfers, also called remittances. Business Insider recently shed some light on the global remittance market, which is dominated by Western Union, MoneyGram and Ria.
With some $583 billion remitted globally last year, the market is absolutely colossal in size. The United States was the top country for remittances in 2014, accounting for 22 percent ($131 billion) of the world’s volume. Saudi Arabia’s huge migrant workforce saw the country send $45 billion in remittances while the United Arab Emirates rounded off the top three with $29 billion.
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This chart shows the top 10 remittance-sending countries in 2014.
You will find more statistics at Statista
