In this analysis, we examine the top countries ranked by the amount of money received from abroad in current U.S. dollars, utilizing data spanning from 2000 to 2023 sourced from Knomad.
This comprehensive dataset allows us to identify the nations that have received the highest influx of foreign funds over the specified timeframe.
According to visualcapitalist.com, Specifically, these transfer totals shown represent personal remittances, or money sent between residents and non-residents, including personal transfers and compensation for work done abroad. It does not include, and is separate from, foreign investment.
Top 10 Countries by Personal Remittances Received (2000-2023)
The Indian diaspora—measuring nearly 18 million people—collectively sent more than $125 billion back to the country in 2023. In fact, India became the first country to ever receive more than $100 billion in personal remittances in 2022.
For context, India’s remittances received adds to more than the next two countries, Mexico ($67 billion) and China ($50 billion) combined.
Meanwhile, over the last two decades, the top 10 has seen a major shift. Countries from Europe have fallen out, replaced by Asian and African countries with big diaspora communities.
And the countries they’ve replaced—France, UK, Germany—are now some of the top destinations for immigration, from where remittances are usually sent.
The UN states that at least one in nine people globally are supported by funds received from abroad, and half of the amount ends up in rural areas, where some of the world’s poorest people live. This also makes remittances three times more important than international aid.
On a global scale, personal inbound remittances have risen seven times between 2000 and 2023.
