Some 200 million workers live outside their home countries to earn higher wages, part of which is sent to sustain their families back home. Mexico followed by the Philippines and India are the top nations for receiving money transfers.
According to Aite Group, foreign labourers will transfer about US$289 billion to their homelands in 2007. Robust demand for international money transfer services is expected to grow steadily for another 40 years.
The Western Union Company
Processing over one million transactions daily, Western Union is a giant in global money transfers. Generating almost US$5 billion in revenues for 2007, the company transfers cash in 120 currencies.
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