In 2022, India made history by becoming the largest recipient of remittances globally, exceeding $111 billion, a milestone no other country had reached before. This noteworthy feat was highlighted in the World Migration Report 2024 by the International Organisation for Migration (IOM).
Apart from India, countries such as Mexico, China, the Philippines, and France also ranked among the top recipients of remittances. India’s prominent position in this regard underscores the significant role of labor migration from the subregion, with numerous migrant workers contributing to the substantial inflow of remittances.
The report emphasized India’s exceptional status as the foremost recipient, surpassing the $100 billion threshold. Mexico followed as the second-largest recipient, a position it had also held in 2021 after surpassing China, which historically ranked second only to India in remittances.
