Sending remittances from South Korea to other parts of the world was cheaper than from Australia or India, as of the first quarter of 2024. This is according to an average taken from different situation in which consumers send money worth 200 U.S. dollars from one country to the next - including cash, MTOs (money transfer organizations) or cards.
Total average cost of sending and/or receiving 200 U.S. dollars worth of remittances from/to individual countries in Asia-Pacific except for Southeast Asia in 1st quarter of 2024
Afghanistan, Australia, Bangladesh, Sri Lanka, China, India, Japan, South Korea, Nepal, New Zealand, Pakistan, Tonga
Survey time period
Q1 2024
Special properties
Includes cash, bank account transfers, credit cards, debit cards, prepaid cards, and mobile money
Supplementary notes
The source states it investigates 105 remittance receiving countries, compared to 48 remittance sending countries. It is therefore likely that not all countries have data for both situations.
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Statista. (July 6, 2024). Total average cost of sending and/or receiving 200 U.S. dollars worth of remittances from/to individual countries in Asia-Pacific except for Southeast Asia in 1st quarter of 2024 [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1388230/cost-sending-money-south-asia-east-asia/
Statista. "Total average cost of sending and/or receiving 200 U.S. dollars worth of remittances from/to individual countries in Asia-Pacific except for Southeast Asia in 1st quarter of 2024." Chart. July 6, 2024. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1388230/cost-sending-money-south-asia-east-asia/
Statista. (2024). Total average cost of sending and/or receiving 200 U.S. dollars worth of remittances from/to individual countries in Asia-Pacific except for Southeast Asia in 1st quarter of 2024. Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1388230/cost-sending-money-south-asia-east-asia/
Statista. "Total Average Cost of Sending And/or Receiving 200 U.S. Dollars worth of Remittances From/to Individual Countries in Asia-pacific except for Southeast Asia in 1st Quarter of 2024." Statista, Statista Inc., 6 Jul 2024, https://www.statista.com/statistics/1388230/cost-sending-money-south-asia-east-asia/
Statista, Total average cost of sending and/or receiving 200 U.S. dollars worth of remittances from/to individual countries in Asia-Pacific except for Southeast Asia in 1st quarter of 2024 Statista, https://www.statista.com/statistics/1388230/cost-sending-money-south-asia-east-asia/ (last visited December 21, 2024)
Total average cost of sending and/or receiving 200 U.S. dollars worth of remittances from/to individual countries in Asia-Pacific except for Southeast Asia in 1st quarter of 2024 [Graph], Statista, July 6, 2024. [Online]. Available: https://www.statista.com/statistics/1388230/cost-sending-money-south-asia-east-asia/
