Data Drop: 5 Charts on Global Remittances

How the $900 Billion Industry Will Shift in 2025

Report by Grace Broadbent | Jan 15, 2025

Remittances represent a large share of global payments and will keep growing—although at a flat rate. Traditional money transfer organizations have to fight harder for a share of the prize as digital-only entrants have stepped up the competition.

The global remittance industry presents a massive volume opportunity for payment providers, but it’s undergoing a transformation. Traditional money transfer organizations like Western Union and MoneyGram have been put on notice as digital-only entrants like Wise have shifted the competitive landscape, while regulatory pressure to cut costs has ramped up. And slowing inflow growth is limiting providers’ expansion opportunities.

Here are five charts that unpack our latest global remittance forecasts and highlight the key trends ahead.

The growth of global remittance inflows will remain steady in 2025

Inflow growth has normalized after a pandemic-driven drop and spike. It will hover around 3% from 2023 through the end of our forecast period in 2026. The slight deceleration in 2025 will be due to region-specific trends like declining growth in Central and Eastern Europe amid the Russian-Ukrainian conflict as well as uncertainty in the Middle East.

Here’s what’s in the full report

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Reliable data in simple displays for presentations and quick decision making.

The growth of global remittance inflows will remain steady in 2025
India will keep its position as the largest recipient of remittances despite flat growth

The US remains the top remitter globally, but outflows are slowing
Widespread availability of digital remittance apps has made them a popular option globally

Remittance providers can win over prospects through lower costs and faster speeds
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Charts in This Report

Remittance Inflow Worldwide, 2019-2026 (billions and % change)US Remittance Outflow, 2019-2026 (billions and % change)

Countries With the Highest Rates of Sending/Receiving Remittances via Digital Apps, March 2024 (% of respondents)Features for Which US Remittance Users Would Consider Switching to a New Money Transfer Provider, June 2024 (% of respondents)