Do you know what per cent of expatriates send money to Nigeria online is total of country’s remittance? In 2018, it was reported that 527,000 foreign nationals entered the UK, intending to stay for at least a year. Between 2004 and 2018, overall immigration remained reasonably constant, with about 500,000 to 600,000 non-UK residents coming to the UK in most years. However, in recent years, there have been significant shifts in immigration composition to the United Kingdom.
Most immigrants to the UK have traditionally come from outside the EU, which is still the case today. These immigrants transfer money to Nigeria and other African countries by saving amount from payments they got. In 2018, non-EU nationals accounted for about 62 per cent of all long-term refugees. Except for 2014 and 2015, according to official figures last updated in February 2020, they outnumbered EU immigrants every year between 1991 and 2018, except for 2014 and 2015.
The EU’s 2004 extension paved the way for a steady increase in annual immigration to the UK, mainly from EU residents. Between 1991 and 2003, an estimated 22% of immigrants migrated to the UK for at least a year came from EU countries, compared to 41% from 2004 to 2018.
Why People Migrate to The United Kingdom and Other European Countries?
People move from their home countries for various reasons, but the most significant single reason is believed to be economic conditions at home. Due to unemployment in home countries, people migrate to developed countries to support the family by money transfer to Nigeria and neighbouring countries. According to a recent report, economic “push” factors are to blame for the disparities in migration flows observed between African and EU countries in recent years.
For example, joblessness is one indicator of a country’s economic health. African countries have higher unemployment rates than the United Kingdom, particularly after 2008. It has been argued that increased motivation for developing-country nationals to emigrate and low-income levels remain a decisive push factor in non-industrialized countries.
How Migrants send money to home countries?
Most of the migrants send money to Nigeria and other countries to support families back home. Money transfer agencies are helping these migrants to quickly and safely send and receive the money to home countries. Most service providers like ACE Money transfer allow sending money to Nigeria online without a transfer fee and high exchange rates.