February 18, 2015
Focus on India, Bangladesh, Indonesia, Philippines, Thailand and Vietnam
The global remittance market is estimated at $582 billion in 2014. A major portion of the global remittances (Inward and Outward) is contributed by countries in South and SE Asia.
India, Philippines, Bangladesh and Vietnam are among the top 10 remittance earning countries in the world. Indonesia and Thailand are among the top 5 remittance receiving countries in South East Asia.
Every year a significant portion of the labor force from all these countries migrates to Gulf countries and the Americas. Gulf countries in the Middle East region have around 15 million migrant workers; more than 70% is contributed by these countries.
Remittance pr ...