Remittances remain a crucial source of external finance for low- and middle-income countries (LMICs). In 2023, remittance flows to LMICs were supported by strong labor markets in the advanced economies, particularly in the United States, which stands as the largest source country for remittances and the primary destination country for migrants. However, reduced remittances from the Gulf Cooperation Council (GCC) countries and the Russian Federation...
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2024/06/30
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Brief
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193022
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1
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2024/08/13
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Disclosed
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Remittances Slowed in 2023, Expected to Grow Faster in 2024
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Citation
Ratha, Dilip; Vandana Chandra; Eung Ju Kim; Mahmood, Akhtar; Sonia Plaza.
Remittances Slowed in 2023, Expected to Grow Faster in 2024 (English). Migration and development brief;KNOMAD Trust Fund Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/099714008132436612