India expected to receive total remittance of $80 billion in 2018

India is expected to receive a total remittance of $80 billion in 2018, said the latest edition of the World Bank`s Migration and Development Brief, released on Saturday. "Among major remittance recipients, India retains its top spot, with remittances expected to total $80 billion this year, followed by China ($67 billion), Mexico and the Philippines ($34 billion each), and Egypt ($26 billion)," the brief said.

"As global growth is projected to moderate, future remittances to low and middle-income countries are expected to grow moderately by 4 per cent to reach $549 billion in 2019. Global remittances are expected to grow 3.7 per cent to $715 billion in 2019."

According to the brief, remittance flows rose in all regions and was driven by a stronger economy and employment situation in the US and a rebound in outward flows from Gulf Cooperation Council (GCC) countries and the Russian Federation.