Asian migrants’ remittances $404 billion

NEW DELHI: Migrants from developing countries sent $404 billion in remittances to their home countries last year, according to the World Bank (WB). India led the list with $70 billion, followed by China at $60 billion and the Philippines, $25 billion.

In its Migration and Development Brief, the World Bank expects this year’s remittance flow to developing countries to increase by 7.8 percent to $436 billion, and to $526 billion in 2016 despite more deportations from some host countries.