
Countries in Latin America with most outgoing remittances, by receiving region 2021
Venezuela, Argentina, Chile, and Brazil accounted for more than half of the total remittance outflow in Latin America in 2021. Remittances from these four countries ranged from 2.4 billion U.S. dollars to 3.6 billion U.S. dollars. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. Europe's outgoing payment flow largely does not go to these regions but goes towards Central and Eastern Europe.