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:
|3||United Arab Emirates||32,636|