Nearly half of remittances sent from Spain to Colombia were typically handled by WorldRemit and MoneyGram in 2024. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels originating from Spain and which sent money to Colombia, specifically. Spain was the number three country of origin for remittances to Colombia, while the Latin American country was the fifth country in terms of remittance destinations from Spain. Remittances are, nevertheless, still a relatively uncharted topic. While figures exist on the total traffic between individual countries ("corridors"), 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.
Biggest brands for remittances in the Spain and Colombia corridor from 1st quarter of 2011 to 1st quarter of 2024
Figures are based on the remittance channels that exist in a remittance sending and/or receiving country.
Supplementary notes
The figures provided have been calculated by Statista based off the Remittance Prices Worldwide from the World Bank and a methodology shared in a report from the OMFIF. This source reports the remittance channels that exist in a remittance sending and/or receiving country. The figures are shown are therefore not based off the number of remittances or the transaction value of remittances.
The World Bank launched a work group in 2023 to standardize remittance data in the future and better map out the topic. This includes an attempt at providing more detailed remittance flow information. The initial results of this work group are expected in the second half of 2024. More information can be found here.
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Statista. (July 6, 2024). Biggest brands for remittances in the Spain and Colombia corridor from 1st quarter of 2011 to 1st quarter of 2024 [Graph]. In Statista. Retrieved October 03, 2024, from https://www.statista.com/statistics/1451171/remittances-by-brand-spain-to-colombia/
Statista. "Biggest brands for remittances in the Spain and Colombia corridor from 1st quarter of 2011 to 1st quarter of 2024." Chart. July 6, 2024. Statista. Accessed October 03, 2024. https://www.statista.com/statistics/1451171/remittances-by-brand-spain-to-colombia/
Statista. (2024). Biggest brands for remittances in the Spain and Colombia corridor from 1st quarter of 2011 to 1st quarter of 2024. Statista. Statista Inc.. Accessed: October 03, 2024. https://www.statista.com/statistics/1451171/remittances-by-brand-spain-to-colombia/
Statista. "Biggest Brands for Remittances in The Spain and Colombia Corridor from 1st Quarter of 2011 to 1st Quarter of 2024." Statista, Statista Inc., 6 Jul 2024, https://www.statista.com/statistics/1451171/remittances-by-brand-spain-to-colombia/
Statista, Biggest brands for remittances in the Spain and Colombia corridor from 1st quarter of 2011 to 1st quarter of 2024 Statista, https://www.statista.com/statistics/1451171/remittances-by-brand-spain-to-colombia/ (last visited October 03, 2024)
Biggest brands for remittances in the Spain and Colombia corridor from 1st quarter of 2011 to 1st quarter of 2024 [Graph], Statista, July 6, 2024. [Online]. Available: https://www.statista.com/statistics/1451171/remittances-by-brand-spain-to-colombia/