Western Union was used the most for incoming remittances to Mexico, although its market share stayed relatively unchanged in 2024. This is according to a custom-made calculation from Statista, based on the number of reported remittance channels going towards Mexico. The three countries from which Mexico received the highest value of remittances are the U.S., Canada, and Spain. Remittances are a relatively uncharted topic, though. While figures exist on the total traffic between individual countries ("corridors"), exact numbers on how much of this comes from banks, money transfer organizations (MTOs), or digital sources (blockchain, etc.) is typically not known. All figures on remittances are therefore estimates.
Biggest brands for remittances in Mexico from 1st quarter 2011 to 1st quarter 2024, based on remittance inflow from any other country
Figures are based on the remittance channels that exist in a remittance sending and/or receiving country.
Supplementary notes
The figures provided have been calculated by Statista based off the Remittance Prices Worldwide from the World Bank and a methodology shared in a report from the OMFIF. This source reports the remittance channels that exist in a remittance sending and/or receiving country. The figures are shown are therefore not based off the number of remittances or the transaction value of remittances.
The World Bank launched a work group in 2023 to standardize remittance data in the future and better map out the topic. This includes an attempt at providing more detailed remittance flow information. The initial results of this work group are expected in the second half of 2024. More information can be found here.
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Statista. (July 6, 2024). Biggest brands for remittances in Mexico from 1st quarter 2011 to 1st quarter 2024, based on remittance inflow from any other country [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1456754/remittance-inflows-by-brand-in-mexico/
Statista. "Biggest brands for remittances in Mexico from 1st quarter 2011 to 1st quarter 2024, based on remittance inflow from any other country." Chart. July 6, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1456754/remittance-inflows-by-brand-in-mexico/
Statista. (2024). Biggest brands for remittances in Mexico from 1st quarter 2011 to 1st quarter 2024, based on remittance inflow from any other country. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1456754/remittance-inflows-by-brand-in-mexico/
Statista. "Biggest Brands for Remittances in Mexico from 1st Quarter 2011 to 1st Quarter 2024, Based on Remittance Inflow from Any Other Country." Statista, Statista Inc., 6 Jul 2024, https://www.statista.com/statistics/1456754/remittance-inflows-by-brand-in-mexico/
Statista, Biggest brands for remittances in Mexico from 1st quarter 2011 to 1st quarter 2024, based on remittance inflow from any other country Statista, https://www.statista.com/statistics/1456754/remittance-inflows-by-brand-in-mexico/ (last visited November 21, 2024)
Biggest brands for remittances in Mexico from 1st quarter 2011 to 1st quarter 2024, based on remittance inflow from any other country [Graph], Statista, July 6, 2024. [Online]. Available: https://www.statista.com/statistics/1456754/remittance-inflows-by-brand-in-mexico/
