Beneficiary of Remittances | Top Five Countries That Receive Highest Amount

DUBAI:  Expatriate families in Asia remain the biggest beneficiaries of money sent home by foreigners working around the world, with India, China, Philippines and Pakistan emerging in the top five biggest recipients of remittances in 2016.

Foreign workers from Asian countries constitute a huge part of the expat population in the UAE, considered one of the major sources of global remittances. They are among the 200 million expats that support some 800 million family members around the world.

A new report out this month from the United Nations International Fund for Agricultural Development (IFAD) showed that India took home the crown as the top-receiving country for earnings made by migrants, recording a total of $62.7 billion (Dh230 billion) in wire transfers from abroad.

Chinese dependents and families received the second-highest amount of money sent home by expats at $61 billion, followed by Filipinos ($29.9 billion), Mexicans (28.5 billion) and Pakistanis ($19.8 billion).

The report clearly illustrates that Asian expats are the biggest sources of funds that provide much needed support to dependent families and individuals.

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