Unquestionably, one of the most popular locations for expats, students and travellers from around the world is the UK.</span>
<span style="font-weight: 400;">Every year, countless numbers of immigrants from Asia, Africa, and several European nations flock to the UK in an effort to improve their standard of living.</span>
<span style="font-weight: 400;">You can learn more about these money transfers in-depth with the help of the UK remittance statistics we have chosen for you today.</span>
<span style="font-weight: 400;">The United Kingdom ranks as the 14th largest remittance sender in the world, with average outflows of $10.291 billion.</span>
<span style="font-weight: 400;">The amount of money sent from the UK is comparable to the outflows of remittances from Malaysia and Italy.</span>
<span style="font-weight: 400;">With an average of $60.969 billion in remittances sent each year, the USA is without a doubt the largest sender.</span>
<span style="font-weight: 400;">The Office for National Statistics estimates that in 2021 the UK's overall external remittance flow was $10.083 billion (ONS).</span>
<span style="font-weight: 400;">In the previous 17 years, the UK's remittance outflow has never been lower.</span>
<span style="font-weight: 400;">Compared to 1999, when only $5.112 billion was transferred abroad, $11.597 billion was sent abroad in 2007, an all-time high.</span>
<span style="font-weight: 400;">The the majority of UK money transfers are to India, but they have a small effect on the country's GDP. Money transfers in the uk effect the economies of many nations. <a href="https://moneyaccounts.com/money-transfers-in-uk/"><span data-sheets-value="{"1":2,"2":"money transfers in uk"}" data-sheets-userformat="{"2":1319425,"3":{"1":0},"12":0,"16":11,"21":0,"23":2}">money transfers in uk