Remittance Flows and GDP Impact By Country - graphic

Article CAIRCO note: 
Remittances are a massive transfer of wealth out of America
Article date: 
28 January 2023
Article category: 
National News
Article Body: 

Remittances are a massive transfer of wealth out of America.

Remittances are monies sent by foreign-born workers (legal immigrants and illegal aliens) back to their home country. The transfers are facilitated by sending money through banks, making investments in the home country, or by returning to the home country while retaining bank accounts and other assets in the United States.

Remittances are essentially a tax-free transfer of wealth out of the U.S. Approximately $20 billion of Mexican remittances each year disappear from the U.S. economy via the institutionalized money transfer industry, never to return. While this massive amount may be considered virtual foreign aid, it is a non-sanctioned transfer of wealth that is based on a fundamental violation of America’s immigration and employment laws.

The following article is implicitly pro-mass immigration and pro-remittances. It doesn't address the drain of wealth from America, nor the impact of cheap, foreign labor on American workers and wages. It does, however, include a few interesting charts.


Remittance Flows and GDP Impact By Country, by Richie Lionell, Visual Capitalist, 25 January 2023:

In 2021, total global remittances were estimated at $781 billion and have further risen to $794 billion in 2022...

For the past 15 years, India has consistently topped the chart of the largest remittance beneficiaries....

Rank Remittance Inflows by Country 2022 (USD)
1 India $100,000M
2 Mexico $60,300M
3 China $51,000M


With an estimated $100 billion in remittances received, India is said to have reached an all-time high in 2022.

This increasing flow of remittances can be partially attributed to migrant Indians switching to high-skilled jobs in high-income countries—including the U.S., the UK, and Singapore—from low-skilled and low-paying jobs in Gulf countries.

Mexico and China round out the top three remittance-receiving nations, with estimated inbound transfers of $60 billion and $51 billion respectively in 2022...


global remittance 2022 - visual capitalist



Remittances are a massive transfer of wealth out of America