Western Union market share in remittance inflows of 93 countries worldwide in 2023

Western Union's market share in incoming remittances was relatively high in China as of late 2023, more so than in the United Kingdom. This is according to a custom-made calculation from Statista, based on the number of reported remittances channels originating from more than 40 different countries worldwide. Western Union is often considered one of the main providers of remittances services worldwide. The company's quarterly revenue increased by nearly one percent in Q3 2023, the second quarter since 2021 with a positive growth rate. Nevertheless, remittances are a relatively uncharted topic. While figures exist on the total traffic between individual countries ("corridors") or the overall size of remittance flows, exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.