Indians second highest migrants in the UK sending money back home – UKMALAYALEE

Indians second highest migrants in the UK sending money back home

Wednesday 19 December 2018 12:26 AM UTC

LONDON Dec 19: Migrants in the UK are sending home £21billion to their families back home, a study has revealed.

Nigeria was the top receiver of cash from the UK, with £3.27bn sent in 2017. India received £3.13bn, £1.4bn was sent to France, Pakistan received £1.34bn while Germany received £1bn.

India is the largest receiver of remittances in the world, receiving a total of US$68,968bn.

China is the second largest receiver of remittances, after India, receiving a total of US$63,860bn.

The US is home to the largest number of migrants from developing countries and is the largest sender of remittances in the world.

TOP FIVE COUNTRIES UK SENDS MONEY TO

NIGERIA – £3.24bn ($4.1bn)

INDIA – £3.08bn ($3.9bn)

FRANCE – £1.42bn ($1.8bn)

PAKISTAN – £1.34bn ($1.7bn)

GERMANY – £1.03bn ($1.3bn)

These estimates are made by the World Bank using data from formal channels such as banks and other businesses that transfer money.

CLICK TO FOLLOW UKMALAYALEE.COM