Western Union New_11.21.13 update
Spain
Canada The Philippines is the top destination country for remittances from Canada.
Spanish nationals are leaving the country to work in other European countries such as Germany.
Portugal
South Korea
There have been high migration flows from Portugal to Brazil.
In 2012, S. Korea was a net send country, with 53% going out of the country.
Panama
In 2012, more than 50% of remittances flowed out of Panama– with Colombia as the top receive destination.
Brazil
Malaysia
Outflows in 2013 approached 40% versus inbound transfers.
Outbound sends account for 90% of the country’s remittance flows. The top corridors for the outbound remittances are Indonesia, India, Philippines and Bangladesh.
Chile In 2012, the ratio of outbound to inbound remittances was 60-40.
Panama
Panama’s economy was forecast to grow at 7.7% in 2013 (Source: Economist Intelligence Unit July, 2013)
(EIU, 07/2013) and massive infrastructure development is fueling migration to the capital from rural areas and from neighboring countries. In addition to the Panama Canal expansion project, the country is expanding Tocumen
remittances flowed out of the country–
Western Union has a significant intra-country money transfer business in Panama, driven in part by migration to the capital city, but also fueled by sends within Panama City alone. With the massive construction projects under way, it is easier to wire money across town than fight traffic and detours.
with Colombia as the top receive destination.
(Source: WU Data)
International Airport and constructing a new subway system in Panama City. Ten years ago (in 2002) Panama was a 75% inbound country and the United States ranked first sending remittances into the country. In 2012, however, more than 50% of
South Korea In 2002, South Korea was a net receiver of remittances, with nearly 64 percent flowing into the country. By 2012, S. Korea was a net send country, with 53% going out of the country. (Source: market and WU Data)
highly qualified migrants as well as more temporary workers for the country’s key sectors such as agriculture and construction.
In 2002, Chile was a net receiver of remittances with 70% of remittance flows coming into the country. By 2012, the ratio of outbound to inbound remittances was 60-40. This trend is likely
Recent data suggests that South Korea is now the fastest-aging country on Earth.
to continue in the same direction. The top corridors are Chile’s neighbors:
(Source: Center for Strategic and International Studies)
Peru, Colombia and Bolivia, with the Dominican Republic ranking 4th as a
With a shrinking labor force, immigrants fill the void. South Korea reportedly distributes more than half of their available entry visas to immigrants coming to work.
receiver of remittances from Chile. (Source: WU Data)
Brazil
Chile
Chile’s economic success in recent years and its strong growth prospects for the next few years have made the country a focal point in Latin America, and Western Union business illustrates the draw that Chile has become for workers from around the region. According to the 2013 OECD International Migration Outlook, migration flows into Chile have doubled since 2002. The government is seeking to attract
Although Brazil’s economy has shown some weakness recently, the solid economic growth over the past years and important sporting events such as the 2016 Olympic Games or the 2014 FIFA World Cup has attracted high migrant inflows to the country.
The flow of remittances out-of versus into Brazil has shifted more than 30 percentage points since 2002 – outflows in 2013 approached 40% versus inbound transfers. Haiti tops the United
States as a destination for remittances from Brazil, with Peru and Portugal next in line as remittance receive destinations.
Portugal Portugal has been strongly impacted by the European crisis. The country has been in a recession since the beginning of 2011 and is likely to remain in a difficult position until the end of 2014 (EIU, 07/2013). There have been
high migration flows from Portugal into Brazil (Portuguese migrants and returning Brazilian migrants). In 2012, the Brazil Portugal corridor was about 40% outbound and 60% inbound transfers, whereas in 2008, outbound transfers accounted for less than 10%. (Source: WU Data)
Spain Spain is still a net sender of remittances. Remittances in both directions declined in 2012, with inbound remittances less impacted by recent market developments. For many years, Spain was a popular destination for immigrants from many parts of the world, such as Romania, Morocco, Pakistan, China, Ecuador, Colombia, etc. Now migration and remittance flows are reversing, however. In addition, Spanish nationals are leaving
the country to work in other European countries such as Germany, or they are going to South American countries that are economically better off. (Source: WU Data)
Canada Canada is reported to be the fastest growing
nation in the G8, its population now surpassing 35 million people. Immigrants comprise 20.6% of the population, also the highest proportion in the G8. (Source: Statistics Canada)
The Philippines is the top destination country for remittances from Canada. A decade ago, Philippines ranked 12th, and the US (now 5th) was ranked 2nd behind Jamaica.
Malaysia Malaysia is a top destination country for migrants from the Asia Pacific region who work in the country’s electronics and construction industries and on plantations.
Outbound sends account for 90% of the country’s remittance flows. The top corridors for the outbound remittances are Indonesia, India, Philippines and Bangladesh. (Source: WU Data)
(Source: WU Data)
Over 96% of Canadians have a bank account, and according to the Canadian Banking Association, the internet is now the main means of banking for 47 per cent of Canadians. Canadians move money around the world with Western Union online, through westernunion.com and via the sites of Western Union’s major bank Agents in the country. (Source: Canadian Banking Association & WU Data)
Malaysia is an important country for Western Union’s account-to-cash and direct-to-bank service, given the demand from consumers there to support their families in the most convenient way possible.
Canada The Philippines is the top destination country for remittances from Canada.
Spanish nationals are leaving the country to work in other European countries such as Germany.
Portugal
South Korea
There have been high migration flows from Portugal to Brazil.
In 2012, S. Korea was a net send country, with 53% going out of the country.
Panama
In 2012, more than 50% of remittances flowed out of Panama– with Colombia as the top receive destination.
Brazil
Malaysia
Outflows in 2013 approached 40% versus inbound transfers.
Outbound sends account for 90% of the country’s remittance flows. The top corridors for the outbound remittances are Indonesia, India, Philippines and Bangladesh.
Chile In 2012, the ratio of outbound to inbound remittances was 60-40.
Panama
Panama’s economy was forecast to grow at 7.7% in 2013 (Source: Economist Intelligence Unit July, 2013)
(EIU, 07/2013) and massive infrastructure development is fueling migration to the capital from rural areas and from neighboring countries. In addition to the Panama Canal expansion project, the country is expanding Tocumen
remittances flowed out of the country–
Western Union has a significant intra-country money transfer business in Panama, driven in part by migration to the capital city, but also fueled by sends within Panama City alone. With the massive construction projects under way, it is easier to wire money across town than fight traffic and detours.
with Colombia as the top receive destination.
(Source: WU Data)
International Airport and constructing a new subway system in Panama City. Ten years ago (in 2002) Panama was a 75% inbound country and the United States ranked first sending remittances into the country. In 2012, however, more than 50% of
South Korea In 2002, South Korea was a net receiver of remittances, with nearly 64 percent flowing into the country. By 2012, S. Korea was a net send country, with 53% going out of the country. (Source: market and WU Data)
highly qualified migrants as well as more temporary workers for the country’s key sectors such as agriculture and construction.
In 2002, Chile was a net receiver of remittances with 70% of remittance flows coming into the country. By 2012, the ratio of outbound to inbound remittances was 60-40. This trend is likely
Recent data suggests that South Korea is now the fastest-aging country on Earth.
to continue in the same direction. The top corridors are Chile’s neighbors:
(Source: Center for Strategic and International Studies)
Peru, Colombia and Bolivia, with the Dominican Republic ranking 4th as a
With a shrinking labor force, immigrants fill the void. South Korea reportedly distributes more than half of their available entry visas to immigrants coming to work.
receiver of remittances from Chile. (Source: WU Data)
Brazil
Chile
Chile’s economic success in recent years and its strong growth prospects for the next few years have made the country a focal point in Latin America, and Western Union business illustrates the draw that Chile has become for workers from around the region. According to the 2013 OECD International Migration Outlook, migration flows into Chile have doubled since 2002. The government is seeking to attract
Although Brazil’s economy has shown some weakness recently, the solid economic growth over the past years and important sporting events such as the 2016 Olympic Games or the 2014 FIFA World Cup has attracted high migrant inflows to the country.
The flow of remittances out-of versus into Brazil has shifted more than 30 percentage points since 2002 – outflows in 2013 approached 40% versus inbound transfers. Haiti tops the United
States as a destination for remittances from Brazil, with Peru and Portugal next in line as remittance receive destinations.
Portugal Portugal has been strongly impacted by the European crisis. The country has been in a recession since the beginning of 2011 and is likely to remain in a difficult position until the end of 2014 (EIU, 07/2013). There have been
high migration flows from Portugal into Brazil (Portuguese migrants and returning Brazilian migrants). In 2012, the Brazil Portugal corridor was about 40% outbound and 60% inbound transfers, whereas in 2008, outbound transfers accounted for less than 10%. (Source: WU Data)
Spain Spain is still a net sender of remittances. Remittances in both directions declined in 2012, with inbound remittances less impacted by recent market developments. For many years, Spain was a popular destination for immigrants from many parts of the world, such as Romania, Morocco, Pakistan, China, Ecuador, Colombia, etc. Now migration and remittance flows are reversing, however. In addition, Spanish nationals are leaving
the country to work in other European countries such as Germany, or they are going to South American countries that are economically better off. (Source: WU Data)
Canada Canada is reported to be the fastest growing
nation in the G8, its population now surpassing 35 million people. Immigrants comprise 20.6% of the population, also the highest proportion in the G8. (Source: Statistics Canada)
The Philippines is the top destination country for remittances from Canada. A decade ago, Philippines ranked 12th, and the US (now 5th) was ranked 2nd behind Jamaica.
Malaysia Malaysia is a top destination country for migrants from the Asia Pacific region who work in the country’s electronics and construction industries and on plantations.
Outbound sends account for 90% of the country’s remittance flows. The top corridors for the outbound remittances are Indonesia, India, Philippines and Bangladesh. (Source: WU Data)
(Source: WU Data)
Over 96% of Canadians have a bank account, and according to the Canadian Banking Association, the internet is now the main means of banking for 47 per cent of Canadians. Canadians move money around the world with Western Union online, through westernunion.com and via the sites of Western Union’s major bank Agents in the country. (Source: Canadian Banking Association & WU Data)
Malaysia is an important country for Western Union’s account-to-cash and direct-to-bank service, given the demand from consumers there to support their families in the most convenient way possible.
