The Present and Future of Remittance Flows 

merchantmachine.co.uk

September 13, 2021ShareShareTweetPin

Living in the Brexit era and with an ongoing immigration crisis that seems to not stop, many foreigners living in the UK and in other rich nations are sending money back to their home countries to sustain their families and friends.

With the UK receiving around 2.3 billion GBP in remittances in 2020 according to the World Bank data, the country is also one of the biggest senders, sending around 6.7 billion GBP last year only. These figures show a predominant trend, where countries with more resources are sending more money abroad than the quantity they receive.

Merchant Machine conducted a study to analyse which countries send and receive more money and the average prices for UK remittances, in order to predict how remittances will look in 2025. 

The Biggest Senders

We analysed the outward remittance flows for the past 10 years, according to the data offered by the World Bank, to define the countries that are sending more remittances across the world: 

RANKINGCOUNTRYAVERAGE OUTWARD
REMITTANCE FLOWS
(US$ MILLION)
1United States60,969
2Saudi Arabia34,230
3United Arab Emirates32,636
4Switzerland26,241
5Russian Federation24,548
6Germany20,138
7Kuwait15,356
8France13,765
9Luxembourg12,575
10Qatar11,457
11Netherlands11,118
12Korea10,549
13Italy10,540
14United Kingdom10,291
15Malaysia9,890

Tiếp tục đọc “The Present and Future of Remittance Flows “

Vietnam cryptocurrency use second highest in the world

VNE – By Nguyen Quy   February 19, 2021 | 07:34 am GMT+7Vietnam cryptocurrency use second highest in the world

Bitcoins are seen in this illustration picture by Reuters/Dado Ruvic.

Vietnam has the second highest rate of in terms of cryptocurrency use among 74 surveyed economies, driven by remittance payments, a new report says.

The report on survey results released by Statista, a global provider of market and consumer data, says 21 percent of respondents in Vietnam said that they used or owned cryptocurrency in 2020, second after Nigeria (32 percent).

Tiếp tục đọc “Vietnam cryptocurrency use second highest in the world”

Remittances to HCMC rise to record $6.1 bln

VNE – By Nguyen Quy   February 19, 2021 | 02:00 pm GMT+7Remittances to HCMC rise to record $6.1 blnAn employee counts U.S. banknotes at a bank in Hanoi. Photo by VnExpress/Giang Huy.

HCMC received inward remittances worth $6.1 billion last year, a record high and up 12 percent from the previous year, despite the economic slump caused by Covid-19.

The figure exceeded the forecast of $5.5 billion, Nguyen Hoang Minh, deputy director of the city branch of the State Bank of Vietnam, said. Tiếp tục đọc “Remittances to HCMC rise to record $6.1 bln”

Remittance to HCMC reaches $3.38b in 9 months

Last update 13:51 | 06/10/2017

Overseas remittance flowing into HCM City until the end of September rose 12.5 per cent month-on-month to nearly US$3.38 billion.

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The State Bank of Viet Nam (SBV)’s HCM City branch reported that the capital flow increased 6 per cent year-on-year.

Most of the remittance came from the United States, accounting for some 60 per cent of the total, followed by the Europe with roughly 19 per cent. Tiếp tục đọc “Remittance to HCMC reaches $3.38b in 9 months”

Người Việt làm thuê ở Malaysia – 6 kỳ

  • Kỳ 1: Làm quần quật ở xứ người để lo cho gia đình
  • Kỳ 2: Hai anh em Nghị – Sỹ
  • Kỳ 3: Xóm người Chăm An Giang ở Klang
  • Kỳ 4: Những cô dâu Việt ở Malaysia
  • Kỳ 5: Người phụ nữ Việt Nam nhân ái ở Malaysia
  • Kỳ 6: Miền đất mới của người Việt trẻ tuổi

***

Làm quần quật ở xứ người để lo cho gia đình

11/04/2017 11:59 GMT+7

TTO – Những ngày ở Malaysia chứng kiến sự lao động cực nhọc và nghiêm túc của nhiều lao động Việt xa xứ.

Làm quần quật ở xứ người để lo cho gia đình
Chị Ngô Thị Chung tại một quán ăn ở Malaysia mà chị đã giúp việc trong 7 năm qua – Ảnh: Quỳnh Trung

Chúng tôi mới thấu hiểu rằng phía sau những đồng ngoại tệ gửi về gia đình ở quê nhà là mồ hôi, nước mắt, thậm chí là sự tủi nhục mà họ phải chịu nơi xứ người.

Một ngày đầu tháng 4, tại quán ăn Trung Hoa đối diện trung tâm thương mại Low Yat Plaza ở khu trung tâm sầm uất Bukit Bintang, thủ đô Kuala Lumpur, một phụ nữ trung niên nhỏ nhắn cầm thực đơn trên tay, liên tục mời du khách bằng tiếng Hoa. Người phụ nữ này tên Ngô Thị Chung (45 tuổi, quê Nghệ An). Tiếp tục đọc “Người Việt làm thuê ở Malaysia – 6 kỳ”

Overseas remittances fall, worrying real estate developers

Last update 14:00 | 09/02/2017
VietNamNet Bridge – Kieu hoi (overseas remittances) to Vietnam unexpectedly decreased in 2016, raising concerns among real estate developers as kieu hoi are an important source of capital for the property market.


 
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According to Izumi Devalier from HSBC (Hong Kong and Shanghai Banking  Corporation), 70 percent of kieu hoi are poured into business.

According to the State Bank, one-fifth of kieu hoi in 2015, or $2.5 billion, flowed into the real estate market.

According to Nguyen Hoang Minh, deputy director of the State Bank’s HCMC Branch, only $5 billion of kieu hoi had been remitted to the city by the end of 2016.

In general, the volume of kieu hoi to HCMC accounts for more than 50 percent of total kieu hoi to Vietnam. This means that the total kieu hoi volume to Vietnam in 2016 was no more than $10 billion. The figure was much lower than the $12.2 billion in 2015.

Kieu hoi (overseas remittances) to Vietnam unexpectedly decreased in 2016, raising concerns among real estate developers as kieu hoi are an important source of capital for the property market.

For many years, kieu hoi has been considered an important capital source like FDI (foreign direct investment) and ODA (official development assistance).

According to the Central Institute of Economic Management (CIEM), in 1999-2015, Vietnam received $120 billion worth of kieu hoi and was among the biggest kieu hoi receivers in the world. Tiếp tục đọc “Overseas remittances fall, worrying real estate developers”