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Migration and Development Brief 2024
July 6 , 2024
6 hrs 0 min
16
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- The growth in remittances to India is likely to halve in 2024 to 3.7 per cent from 7.5 per cent in 2023.
- India received remittances worth $120 billion in 2023, supported by strong labour markets in the United States and Europe.
- As per the World Bank, Remittances are projected to rise marginally to $124 billion in 2024 and to $129 billion in 2025.
- India remained the top recipient among remittance-recipient countries, followed by Mexico ($66 billion), China ($50 billion), the Philippines ($39 billion), and Pakistan ($27 billion).
- India also remained the largest origin countries of emigrants (18.7 million), followed by Ukraine (11.9 million), China (11.1 million), Mexico (11 million), and Venezuela (8.9 million).
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