What is the UN SDG target for remittance costs?

SDG 10.c targets reducing the average cost of remittances to 3% or less by 2030. As of 2023, the global average is approximately 6.2% for USD 200 transfers. Some corridors (US-Mexico via digital providers) average under 3%; Africa-Africa corridors average 8–9%.

Which corridors are most expensive for remittances?

South Africa to neighboring countries and Pacific island corridors are among the most expensive globally (10–15% average cost). Small market size, limited competition, and bank de-risking drive costs. Largest remittance corridors by volume (US-Mexico, UAE-India) have more competition and lower costs.

Remittance Corridor Cost by Destination

Compare total remittance cost (transaction fee plus FX margin) as a percentage of transfer amount across major corridors using World Bank Remittance Prices Worldwide data to identify cheapest providers.

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Remittance Corridor Cost by Destination

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Frequently Asked Questions

What is the UN SDG target for remittance costs?

Which corridors are most expensive for remittances?