Source: The Economist The cost of sending money from one country to another is sky high. Some global remittances cost as high as 7 percent. According to the World Bank, global remittances worth $550 billion are expected to be transferred to the developing countries this year. There are about 226 million migrant workers worldwide, and … Continue reading Cost of Global Remittances Soar High
FT Partners' report on Global Money Transfer: Emerging Trends & Challenges is a must-read report. It is an information deck report made for investment banks and the general vertical, and is a decent read. I would very much compare it to Mary Meeker's Internet Trends Report, albeit FT Partners has only published one (November 2017). … Continue reading Money Transfer: Emerging Trends & Challenges.
Here is a 2D donut chart that shows the Top 15 Remittance Beneficiary Countries. The data is based on 2018 World Bank Remittance dataset. World Bank Remittance Data as presented by Faisal Khan. The data source was the 2018 World Bank Remittance Data and the values are as follows (for the above-mentioned graph). All figures … Continue reading Top 15 Remittance Beneficiary Countries
According to the latest issue of Remittance Prices Worldwide, a World Bank report, bank remittance are the costliest as compared to other remittance service providers (RSP). They cost an average of 10.53% to send remittances worldwide. This is notably higher than the average cost of sending remittances of 7.01%. Average Remittance Cost by RSP TypeSource: … Continue reading Bank Remittance the Costliest: World Bank
For years I have been thinking of setting up a dedicated website related to the statistics and data related to remittance in the money transfer space. Just early in January, I had put the website up with relevant content, but then accidentally deleted the data. So, here is another attempt to publish the website. The … Continue reading Going Live.