Remittance to the developing countries has increased by 60% over the past 14 years and the center of this growth is the people from East Asia and Pacific region. By 2013 the remittance rate is expected to increase by 7.4% which makes a total of $115 billion. The EAP region has around 35 million people who have migrated to different countries. The number of female migrants is more than males.
India with $69 billion is at the first place. India is followed by China $60 billion, Philippines $24 billion, Mexico $23 billion, the Egypt and Nigeria $21 billion each. This report was released by World Bank’s Migration and Development Brief.
Remittance to the Europe and Central Asia has grown to 10.3% and will reach $43 billion in 2013 with contributions from Moldova 25%, Tajikistan 48% and Kyrgyz Republic 30%. In Latin American countries, remittance is expected to be $61 billion in 2013 which will be 2.5 % more than that in 2012.
The Syrian refugees before the current Syrian civil war were only 674000 and they remitted around $6.1 billion per year. The number of Syrian refugees by 2013 September has crossed 2 million; the largest numbers of Syrian refugees are distributed between Lebanon, Jordan and Turkey.
The remittance to Middle East and North Africa region ( MENA) are expected to reach $49 billion ie, a growth by 3.6%. As per the report of UN Population division 19 million migrants from this area are living outside this region since birth. There are 1.7 million Egyptians in Saudi Arabia, 927,000 Moroccans in France and 712,000 Egyptians in UAE. And Egypt is the sixth largest beneficiary in the world with 40% of remittance from the Middle East and Africa region.
The remittance is expected to grow by 8.8% annually for the next three years then reaching $515 billion by 2015.
Thanks for the comment. But Ryan this was just a report could you please let me know how it helped you?
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