Like manna from heaven: Gulf remittances and India’s aviation market

“Like manna from heaven," The Economist famously described the remittances from the Gulf to India, particularly Kerala.

India is the World's foremost remittance destination, with the largest diaspora globally and remittances play a crucial role in the nation's economy.

In 2023, India received $119.5 billion in remittances, which made up 3.3% of its GDP, based on World Bank-KNOMAD data. About half of this came from NRIs in the Gulf.

A snapshot for 2023:

Global remittance: $857 billion
Total remittance to India: $119.5 billion (14% of the global total)
GCC to India remittance: $69.6 billion (~50% of India's total)

These figures underscore the significant economic contributions of Gulf-based NRIs to India.

Stay tuned as we piece together the story to make the case for enhanced air connectivity for millions of Indians living in the Gulf!

Edition 1 - Size and significance of the diaspora - https://bit.ly/4dkRSmz

Headline remittance data for 2023 from World Bank - KNOMAD. Breakdown by GCC countries are personal projections based on previous data. Please reach out if you need more insights on the methodology.

(This write-up is for educational/ informational purposes only and figures are directional at best)

(Views my own; happy to amend inaccuracies, if any)