Top 10 OIC remittance recipient countries over the last decade
Remittances are among the most important financial lifelines for developing economies. Not only are they vital for household incomes, but also for macro-economic stability, serving as a major source of foreign exchange and often outweighing foreign direct investment or development aid. According to the World Bank’s Migration & Development Brief (June 2024), remittance flows to low- and middle-income countries reached $647 billion in 2023 and as per the most recent estimates, increased to $685 billion in 2024.
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Muhammad Ali Bandial