World Bank

Remittance flows to shrink 14% by 2021 due to COVID-19

Based on the trajectory of economic activities in many large, migrant‐hosting countries, especially the United States, European countries, and the Gulf Cooperation Council (GCC) countries, remittance flows to Low- and Middle-Income Countries are expected to register a decline of 7.2 percent to $508 billion in 2020, followed by a further decline of 7.5 percent to $470 billion in 2021.