In a recent study by the Pew Research Center, it was found that India is among the top six recipients of remittances from Asian Americans, receiving around $55 billion from the US. The study also revealed that Filipino, Indian, and Vietnamese adults in the US are the primary contributors to charities in their ancestral homelands or through remittances. Specifically, Filipino (42%), Indian (36%), and Vietnamese (33%) adults are the most likely to send money to their ancestral homeland, while Chinese (10%) and Japanese (3%) adults are less inclined to do so.
The report, based on a comprehensive survey of 7,006 Asian adults conducted from July 2022 to January 2023, explores the financial and philanthropic connections that Asian Americans have with both the US and their countries of origin. It highlights that in 2021, Asian Americans collectively sent approximately $63 billion in remittances to their countries of origin, with India, the Philippines, China, Vietnam, South Korea, and Japan being the primary recipients, receiving about $55 billion.
The main reasons cited by Asian adults for sending remittances include assisting with ordinary expenses (63%) and health expenses (50%). While the US is the largest remittance-sending nation globally, remittances from Asian Americans significantly contribute to the economies of their countries of origin, particularly in the Philippines, where remittances account for nearly one-tenth of the country’s GDP.
Despite the significant contributions to charities in the US, approximately 27% of Asian adults in the US have sent remittances to their ancestral homeland, showcasing their commitment to supporting their families and communities abroad. This trend is more pronounced among immigrants, who are more likely to contribute to charities in their countries of origin compared to US-born Asian adults.
Religion plays a significant role in charitable giving among Asian Americans, with those who consider religion very important being more likely to donate to charities in both the US and their countries of origin. Overall, Asian Americans demonstrate a strong philanthropic spirit, contributing to charitable organizations both domestically and internationally.
