The latest data on global remittances from the World Bank revealed that India remains the leading recipient of remittances worldwide, with a total of $119.53 billion received in 2023, accounting for 3.3% of its gross domestic product (GDP). 

Mexico secured the second spot with $66.24 billion, which represents 3.7% of its GDP. China ranked third, receiving $49.5 billion, though this amounted to only 0.3% of its GDP. 

The Philippines stood fourth, with remittances totaling $39.1 billion, a significant 9% of its GDP. France, with $34.8 billion, took the fifth position, constituting 1.1% of its GDP. 

Egypt was the eleventh largest recipient, with $19.53 billion, representing 5% of its GDP. 

The World Bank expected remittance flows to the Middle East and North Africa (MENA) region to see a moderate increase of 4.3% in 2024 to $58 billion.