From the following link:
While money from the U.S. is usually sent to Asia and Latin America, money from wealthier European countries is usually sent to East and Central Europe and to Africa, and money from Russia is sent to Central Asia. According to the U.N. report, the five countries that received the most remittances from around the globe in 2016 were:
- India: $62.7 billion
- China: $61 billion
- Philippines: $29.87 billion
- Mexico: $28.5 billion
- Pakistan: $19.84 billion
While that might seem like a lot of money, migrant workers around the world earn about $3 trillion a year and only about 15 percent of their earnings are sent back home. Altogether about 200 million immigrants — equally divided among men and women — around the globe send money to their families. About 800 million people around the world are directly supported by remittances.
“It is not about the money being sent home, it is about the impact on people’s lives,” said Gilbert F. Houngbo, IFAD president, in a press release about the U.N. report. “The small amounts of $200 or $300 that each migrant sends home make up about 60 percent of the family’s household income, and this makes an enormous difference in their lives and the communities in which they live.”
The majority of the money sent to home countries is usually spent right away, the report said. About 75 percent of remittances are used to cover basic needs such as food, shelter and recurring bills. Another 10 percent of remittances are used for things like education and health, while the remaining 15 percent is used for savings and investing in businesses or real estates.
The top 10 countries that money is sent from are: the U.S., Saudi Arabia, Russia, United Arab Emirates, Germany, Kuwait, France, Qatar, United Kingdom and Italy.
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