Malaysia is a really special country. First, it’s a muslim country in Asia, which is not common, then the population is mainly Chinese, Indian and Malay, but Chinese and Indians represents more than 50% of the population. This means… wait… Can we still say that it’s a muslim country in this case? Yes because the government is Muslim. Then the government doesn’t represent the population? Yes, but it is more complicated than this and this is not the subject of this article. This article is about money transfer and how to send money from Malaysia. Actually this is not true, this article is about data, and about data from the World bank about where Malaysian people send their money.
Let’s guess, where could Malaysian send their money? We just saw a lot of Indians and Chinese were living there, so we could guess it’s the main source of money going out. Though, The Chinese and Indians there arrived a century ago (a little bit less for the Indians) so they are not tight so much with India and China anymore. The country is also close to Indonesia, Brunei and Thailand, we can expect strong remittances to these countries. There is also for sure many European expatriates, France, United Kingdom, Germany. Let’s see the results and the study from the World bank.
The 1st country to receive money from Malaysia is Indonesia with more than $2 billion every year. Really. Then comes the Philippines, right we forget this one but so many Filipinos live abroad. Next come Thailand ($449M), China ($330M), India ($261M), Bangladesh, Nepal, Vietnam, Myanmar, France ($36M).
So we had to wait the 11th country to find a non Asian country receiving money from Malaysia. I’m a little bit surprised, but everything else was confirmed!