Top 10 countries worldwide with highest value of money transfers and remittances 2022
remittance outflow for the United States, the difference with the transaction value reported here was roughly 50 billion U.S. dollars. The difference for outgoing remittances from the United Kingdom as reported by KNOMAD was also sizable. Both differences may be due to different market models and methodologies, although neither source goes into detail about this.
Estimates are that the value of international money transfers in the United States in 2022 was nearly 10 times higher than in the United Kingdom. This is according to a model that tried to estimate the market size of international payments, such as remittances, across various countries worldwide. The source does not add much information. For instance, it does not clarify whether this includes all cross-border payments or whether it focuses on specific aspects of this industry - such as remittances by itself, or either the B2B or B2C segments. When compared to the 2021 KNOMAD figures - the "official" figures on remittances - regarding