India, received 111 billion dollars in remittances in 2022: it is the place of origin of the largest number of migrants in the world, almost 18 million

ROMA – According to the last one World Migration Report of the United Nations, India was the largest recipient of foreign remittances with $111 billion in 2022. Its remittances were far ahead of its counterparts Mexico ($61.1 billion), China ($51 billion of dollars), the Philippines (38.05 billion dollars) and France (30.04 billion dollars). The report notes that, with a “very large” number of migrant workers from the sub-region, South Asia receives “some of the largest inflows of remittances globally”.

The largest number of emigrants in the world. It is further stated that “India is also the place of origin of the largest number of international migrants in the world (nearly 18 million), with large diasporas living in countries such as the United Arab Emirates (UAE), the United States and l ‘Saudi Arabia,” adding: “Pakistan and Bangladesh, which were the sixth and eighth largest recipients of international remittances in 2022 (about $30 billion and $21.5 billion respectively), also have a significant portion of their population living abroad as migrant workers, especially in the Gulf Cooperation Council (GCC) states.

Remittances are a salvation. Importantly, the report published every two years states that while remittances remain a “lifeline” for many people in the sub-region, migrant workers from the aforementioned South Asian countries continue to face “myriad risks, including including financial exploitation, excessive financial debt due to migration costs, xenophobia and workplace abuse”.

The first nation to exceed the 100 billion threshold. According to the report, India is the first to reach and even cross the $100 billion mark. Its revenue from 2010 to 2022 more than doubled. In 2010, the country received $53.48 billion, $68.91 billion in 2015 and $83.15 billion in 2020, according to the report.

But international remittances in total were 871 billion. Overall, international remittances have recovered from the decline seen in 2020 due to the Covid-19 pandemic. Migrants were estimated to have sent international remittances globally of about $831 billion in 2022. This marked an increase of about 5% compared to 2021, when it stood at $791 billion, and about 16% compared to $717 billion in 2020. The report also highlighted that remittance revenues are at low levels. and middle-income countries increased 8% between 2021 and 2022, from $599 billion to $647 billion.

“Since the mid-1990s, international remittances have largely exceeded official levels of development assistance defined as government aid aimed at promoting the economic development and well-being of developing countries; they have also recently surpassed foreign direct investment,” she said.

The main destinations of Indian migrants. The GCC countries ( Gulf Cooperation Council, Persian Gulf Cooperation Council, free trade area that brings together six states: Saudi Arabia, Bahrain, United Arab Emirates, Kuwait, Oman, Qatar) among the main destinations for migrant workers According to the report, the Gulf states remain important destinations for migrant workers from all over the world. The 2022 FIFA World Cup has further highlighted the importance of migrant labor in the sub-region, as well as shining a spotlight on rights violations.

A slightly higher percentage of women. According to the report, India has a slightly higher percentage of immigrant women than men. Countries with a significantly high proportion of male emigrants include India, Bangladesh and Pakistan. From an Asian perspective, the distribution of migrant women and men in the top 10 countries of destination and origin is much more variable than in Africa.