Average transaction cost of sending remittances to a specific country (%)

This metric represents the mean percentage cost associated with sending a fixed remittance amount of USD 200 to a designated country, calculated from the fees charged by various remittance service providers (RSPs) listed in the Remittance Prices Worldwide (RPW) database. By aggregating the transaction fees across different service providers, it provides valuable insights into the economic landscape and financial accessibility for migrant workers and their families. A lower percentage indicates more competitive pricing in the remittance market, potentially leading to increased financial inclusion and support for economies heavily reliant on remittances. This indicator not only highlights cost variations across different RSPs but also reflects broader trends in international financial services and regulatory environments. Source: