Question

Which country has become the largest remittance-receiving country in the world in $2017$, as per report 'RemitSCOPE-Remittance markets and opportunities- Asia and the Pacific?

• A. Bangladesh
• B. Philippines
• C. India
• D. Vietnam

Answer 1

Answer: (C)

India

According to the report RemitSCOPE Remittance markets and opportunities Asia and the Pacific, India has become the largest remittance-receiving country in the world in $2017$, with migrant workers from the country sending home $69$ billion US dollars. The remittances to the Asia-Pacific region amounted to $256$ billion dollars last year. In $2017$, India with $\$69$ billion, China with $\$64$ billion and the Philippines with $\$33$ billion are the three largest remittance-receiving countries in the world. Worldwide, an estimated $40\%$ of the total values of remittances go to rural areas. However, in the Asia-Pacific region, remittances go dis-proportionally to countries with a majority of rural populations such as Nepal $81\%$, India $67\%$, Vietnam $66\%$, Bangladesh $65\%$, Pakistan $61\%$ and the Philippines $56\%$. As per report, cash-to-cash transactions remain by far the most common form of transfer.