UK Remittance Landscape Shifts: India and Romania Rise
The UK's remittance landscape has seen significant shifts in recent years, with India and Romania rising to prominence. India, in particular, has become a top 5 corridor since 2021, reflecting growing migrant populations and digital remittance options.
Historically, the UK's top remittance corridors included countries like Nigeria, Pakistan, and Poland. However, since 2017, India has emerged as a major player, driven by increased Indian migration to the UK and regular money transfers back home. This trend has accelerated since 2021, with India now ranking among the top 5 corridors.
Europe remains the leading sender of remittances, with recipient regions alternating between Asia & Pacific and Europe. Major European countries maintain large and growing remittance flows with historical links and recent markets. The UK's high remittance flows to India and Romania reflect this dynamic. Globally, remittance flows have grown significantly since 2010, from $420bn to a projected $1.1tn in 2025, with the US and Canada significantly contributing to the Americas' high volume.
The UK's remittance corridors have evolved, with India and Romania now prominent. This reflects global remittance growth and changing patterns, influenced by migration trends, digitalisation, and financial inclusion. Governments worldwide are exploring international payment systems to compete in remittance receipts.
