The World Bank reveals that Indians are going to receive $100 billion in remittances in 2022 creating history
The World Bank revealed a report today regarding the remittances and their rate in 2022.
World Bank reports that India is the only country that has the honor of being the country to receive $100 billion in remittances singlehandedly.
It is observed that most Indians leave their country to apply for jobs in foreign states such as the United States, United Kingdom, and Australia etc.
They look for high-income jobs in other countries and then send the amount back home to their families which increase the remittances for India.
The World Bank further reports that in 2022, there was 5% growth in the amount that migrants around the world send back home.
Other countries that received good remittances include Mexico, China, Egypt, and Philippines.