Estimates also show that the Moroccan community living abroad will transfer a total of 12 billion dollars, thus placing Morocco in third place in Africa and fourteenth place globally. These money transfers, according to the Bretton Woods institution report, have a direct and positive impact on the national economy. They support local consumption and help finance development projects, particularly in key sectors such as education, health and infrastructure.
In addition, the Kingdom, alongside Egypt and Nigeria, stands out as a major destination for financial flows from these diasporas, particularly from Europe and North America. These trends highlight the growing importance of remittances not only for the economies of recipient countries but also for strengthening their infrastructure and socio-economic development. In this context, the country positions itself as a key player, fully benefiting from this international dynamic.
Egypt ranks 7th among low- and middle-income countries globally, with $22.7 billion in remittances, followed by Nigeria in 9th position with $19.8 billion. Morocco, for its part, stands out by coming in 3rd place in Africa and 14th globally, with a total of 12 billion dollars in transfers, mainly from its diaspora in Europe. These transfers play a key role in the economies of these countries, supporting local consumption and contributing to the development of various sectors.
According to World Bank estimates, global transfers to low- and middle-income countries will exceed foreign direct investment (FDI) and official development assistance (ODA) combined for the first time in 2024, highlighting the major importance of these flows for the economies of the countries of origin.
In sub-Saharan Africa, remittances are expected to reach $56 billion in 2024, a slight increase from 2023, while in the Middle East and North Africa (MENA) region the increase will be more marked, from 55 to 58 billion dollars, thanks to the economic recovery of the Gulf countries where many migrants from Egypt, Morocco and Lebanon work.
Although Africa represents a limited share of the $685 billion estimated for 2024, these transfers remain essential for thousands of families, particularly in the poorest or conflict-affected countries such as Somalia, Eritrea and Sudan. , where they provide a real guarantee of survival, often filling the void left by public aid or investments.
India maintains its position as the world’s largest beneficiary among low- and middle-income countries, thanks to its massive diaspora spread across the globe, including the Gulf countries, North America and Europe. Mexico comes in 2nd place with $68.2 billion, mainly from the 37 million Mexican migrants living in the United States.
These transfers, which have tripled in twenty years, make Mexico the main beneficiary in Latin America. China ranks 3rd with $48 billion, despite restrictions on emigration, with much of the funds coming from its diaspora in Southeast Asia, the United States and Canada. The Philippines (40.2 billion), Pakistan (33.2 billion) and Bangladesh (26.6 billion) complete this ranking, these countries being heavily dependent on transfers from their migrant workers, particularly in the rich Gulf countries.
