5 Countries That Receive the Most International Remittances

2. Guatemala

Remittance Inflows as a Share of GDP: 15.7% 

According to the World Bank, Guatemala witnessed a significant surge in remittance flows in 2022, registering an 18% increase. The increase is linked to the resilience and hard work of the Guatemalan diaspora, many of whom are in the United States, contributing diligently to the US labor market and, in turn, ensuring a steady stream of financial support to their families. This upward trend in remittances has been a source of relief for many Guatemalan households, particularly in rural areas, where these funds are often utilized for essential needs, education, and healthcare. Recognizing the importance of these financial inflows, the Guatemalan government is increasingly emphasizing policies and initiatives that facilitate remittance inflows.