In 2016, global remittances to developing countries amounted to $429 billion dollars with numbers expected to continue to grow into 2017 and beyond.
There are over 250 million migrants working and living in countries far from home and they are supporting their families and friends through global money transfers.
Migrants rely on money transfer services and mobile top-up providers such as Ding to ensure the safe transfer of their earnings to loved ones around the world who rely on it.
To mark International Day of Family Remittances on June 16, we have put together a handy fact sheet that reflects the significant contribution of migrants to their families and their home country.
-Global remittances to emerging markets are expected to total $444 billion dollars in 2017. This is a 3.3% increase on the 2016 total.
-Remittances to developing countries amount to approximately 74.2% of the annual global remittance total.
-It is expected that Latin America and the Caribbean will receive $76 billion dollars in remittances in 2017 while East Asia and the Pacific look to hit $129 billion.
-Traditional channels of remittances are from larger developed countries such as the US, UK and Canada to lower income regions such as Africa, South America and Asia.
-Trends in the global remittance market note the movement away from traditional face-to-face remittance and retail channels towards online services that allow money transfers safely and securely on web and mobile
-Transferring small amounts to mobiles online is a growing trend. At Ding, we send over 250,000 mobile top-ups around the world every single day.
Here at Ding, we understand the importance of what we do to keep migrants and their families connected through mobile top-up. We work with over 400 operators in 130 countries so that you can stay connected. Why not send a mobile top-up back home today?