News DeskIndia received a record $111.22 billion in remittances from citizens working abroad in 2022, making it the first country to surpass $100 billion in a single year, according to a United Nations report.
The World Migration Report 2024, released by the International Organization for Migration, highlights India’s outlier status among top remittance recipients. Mexico ranked second with remittances totaling $59.23 billion last year, followed by China at $52.45 billion, the Philippines at $35.62 billion and France at $26.35 billion. 
The report underscores the vital role migrant workers play in propping up economies back home through the money they send. Nearly 3.6% of the global population, or about 281 million people, lived outside their country of origin in 2022, the U.N. said. Remittances to low- and middle-income countries rose 5% last year to $626 billion.
Growth was fueled by rising costs of living in major host countries like the U.S. and higher interest rates enabling exchanges at more favorable terms for recipients, analysts said. Nevertheless, remittances are projected to decline in 2023 due to global economic headwinds.
For India, the diaspora of an estimated 18 million people working across the U.S., United Arab Emirates and Saudi Arabia provides an indispensable lifeline. The South Asian nation has topped recipients for the last three years, though previous transfers never exceeded $90 billion.
Neighboring Pakistan and Bangladesh were the sixth and eighth largest recipients at $29.77 billion and $21.49 billion, respectively. Migrants constitute nearly 88% of the U.A.E.’s population and over 70% in Kuwait and Qatar.
The report said migrant workers in Gulf nations and elsewhere face concerns over debt burdens from migration costs, labor abuses and discrimination. But remittances help millions of families afford food, healthcare and housing.
