Countries in APAC minus Southeast Asia outgoing remittances, by receiving region 2021
Australia accounted for more less than one third all remittances sent from Asia-Pacific, except Southeast Asia, to other countries in the world in 2021. Remittances from these four countries ranged from 2.4 billion U.S. dollars to 3.6 billion U.S. dollars. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. The outflow from the countries considered here largely went towards East Asia.