India Tops Remittance Charts, Receiving Over $100 Billion in 2022

  • India emerged as the world's leading recipient of remittances in 2022, according to the UN's International Organization for Migration (IOM).
  • The country received a staggering $111 billion, surpassing the $100 billion mark for the first time globally.
  • This signifies a significant increase from $83 billion received in 2020.
  • Mexico followed closely at $61 billion, while China came in third with $51 billion.
  • India's large diaspora, with a strong presence in the UAE, US, and Saudi Arabia, is a major factor behind this achievement.
  • Remittances are money sent back home by migrant workers, acting as a crucial source of income for families and contributing to the national economy.

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