The report 'Remittances Market in The Netherlands' by MoFA is out now!

15 April, 2014

'Remittances Market in The Netherlands' report by the Dutch Ministry of Foreign Affairs is out!

 

This report was initiated and partly financed by the Ministry of Foreign Affairs of the Netherlands to contribute to the '5x5' initiative of the G20; to reduce money transfer costs from 10% to 5%. One of the objectives of this report was to find ways in which costs of money transfers could be reduced.

The remittances market has grown tremendously and in 2012 reached a volume of $525 billion. However not all of these moneys reach their destination, about 10% of the volume goes to costs for the money transfer. The Dutch market of remittances is ranked 10th of the global top sending countries with the top 3 corridors being Morocco, Suriname and China.

Remittances among other things helps alleviate poverty and even as some may say can be the only way to achieve development.

Find the full report here.

Back to News