India has emerged as the leading destination for remittances worldwide, receiving an unprecedented amount of over $111 billion in 2022, according to the United Nations migration agency. This milestone makes India the first country to not only reach but also exceed the $100 billion threshold.
The International Organisation for Migration (IOM) unveiled its World Migration Report 2024 on Tuesday, revealing that India, along with Mexico, China, the Philippines, and France, comprised the top five nations in terms of remittance recipients for the year.
Outpacing other countries by a significant margin, India received more than $111 billion, solidifying its position at the forefront. The report highlighted that India's achievement in surpassing the $100 billion mark is unparalleled. Mexico secured the second position as the largest remittance recipient in 2022, a rank it also held in the previous year after overtaking China, which had historically been the second-largest recipient after India.
Examining the report's data, it becomes evident that India has consistently held the top spot as the primary beneficiary of remittances in previous years as well. Notably, in 2010, India received remittances amounting to $53.48 billion, which increased to $68.91 billion in 2015 and further rose to $83.15 billion in 2020. Ultimately, in 2022, the remittance inflow into India surpassed the significant milestone of $100 billion, totaling $111.22 billion.
India's remarkable performance in attracting remittances signifies its status as an appealing destination for migrant workers and highlights the crucial role played by its diaspora in supporting the country's economy. The record-breaking achievement further reinforces India's position as a global leader in remittances, underscoring its economic significance on the international stage.
Remittances received in 2022
Title: Southern Asia: A Major Hub for Remittances and Migrant Workers
Southern Asia stands out as one of the primary recipients of remittances worldwide, owing to its substantial population of migrant workers, according to a recent report.
Within Southern Asia, three countries—India, Pakistan, and Bangladesh—have secured positions among the top ten global recipients of international remittances. This underscores the significance of labor migration from the subregion.
The report highlights India's remarkable achievement, estimating that it received over $111 billion in remittances in 2022. This establishes India as the largest recipient of international remittances globally, setting a record-breaking precedent.
Pakistan and Bangladesh also feature prominently, ranking as the sixth and eighth largest recipients of international remittances in 2022, receiving approximately $30 billion and $21.5 billion, respectively.
Despite the crucial lifeline that remittances provide for many individuals in the subregion, the report emphasizes that migrant workers from these countries face numerous risks. These risks encompass financial exploitation, burdensome debt resulting from migration costs, xenophobia, and workplace abuses.
The Gulf States continue to serve as significant destinations for migrant workers from around the world. The 2022 football World Cup further highlighted the subregion's reliance on migrant labor and the accompanying violations of rights.
Migrants constitute a substantial proportion of the total populations in several Gulf Cooperation Council (GCC) States. For instance, in the United Arab Emirates, Kuwait, and Qatar, migrants account for 88%, nearly 73%, and 77% of the national populations, respectively.
The majority of migrants, hailing from countries such as India, Egypt, Bangladesh, Ethiopia, and Kenya, are employed in sectors like construction, hospitality, security, domestic work, and retail.
The report adds that India, with a diaspora residing in countries like the United Arab Emirates, the United States, and Saudi Arabia, serves as the origin of the largest number of international migrants globally, with approximately 18 million or 1.3% of its total population living abroad.
Remittances sent in 2022
Title: India's Migration Landscape: Trends, Remittances, and Challenges
India stands as the 13th most popular destination country for immigrants, with a total of 4.48 million individuals choosing to settle there, according to a recent report.
The report highlights several significant international migration corridors involving India, including United Arab Emirates-India, India-United States, India-Saudi Arabia, and Bangladesh-India, all ranking among the top 10 routes for country-to-country migration.
Mexico has now secured the position of the second largest recipient of international remittances globally, surpassing China, which had held that spot for a long time. In 2022, Mexico is estimated to have received over $61 billion in remittances, while China received approximately $51 billion. The decline in remittance flows to China can be attributed to various factors, including demographic shifts resulting in a shrinking working-age population and the country's strict zero-COVID policy, which restricted overseas travel for employment purposes.
Asian countries serve as the primary origins of internationally mobile students. China leads with over one million students studying abroad in 2021, more than double the number from India, which ranks second with around 508,000 students. The United States remains the top destination country for international students, followed by the United Kingdom, Australia, Germany, and Canada. China also attracts a significant number of international students, particularly from the Republic of Korea, Thailand, Pakistan, and India.
The report highlights the gender distribution of international migrants, noting that destination countries in Europe, Northern America, and India have a higher proportion of female immigrants compared to males. India, Bangladesh, and Pakistan have a considerably higher percentage of male emigrants.
Irregular migration to the United States remains a pressing challenge and policy issue, with a notable increase in arrivals from countries not traditionally associated with irregular migration. In 2022, there were a record-high 2.4 million encounters at the United States-Mexico border, encompassing apprehensions and expulsions. The statistics also indicated a rise in migrants from Venezuela, Cuba, Nicaragua, Haiti, Brazil, India, and Ukraine. The report attributes this shift in origin countries to Title 42, which temporarily suspends the right to claim asylum based on the prevention of COVID-19 transmission.
The COVID-19 pandemic has had a severe impact on both internal and international Indian emigrant workers, particularly those in low-skilled positions, informal economy workers, and undocumented individuals. Job losses, wage theft, and a lack of social security during the pandemic have left many Indian migrants burdened with debt and insecurity.
The pandemic has significantly reshaped labor migration patterns in both rural and urban areas, leading to a substantial decline in blue-collar workforce mobility towards cities. This has resulted in a reduced labor supply for major industries. Experts and official data indicate that reverse internal migration, where individuals return from cities to their rural areas of origin, stands at 51.6% for men and 11% for women, further illustrating the impact of the pandemic on migration dynamics in India.
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