Australia has one of the largest and fastest-growing international remittance markets in the world. With more than 8.6 million overseas-born residents — 31.5% of the total population, the highest proportion since 1891 — Australia’s migrant communities send billions of dollars home every year to support families, fund education, and invest in their home countries.
Here is what the latest data shows about the size of Australia’s remittance market, where the money is going, and what is driving the growth.
How big is Australia’s remittance market?
Market sizing for Australia’s remittance outflows varies depending on the methodology used, and it is worth understanding the different figures in circulation.
The broadest measure: A comprehensive 2025 report published in conjunction with a major market entry into Australia cited total outbound remittances from Australia at approximately AUD 56.6 billion (around USD 38.2 billion) in 2024. This figure includes all cross-border personal transfers — formal channels, bank transfers, and informal flows.
The formal digital/licensed channel market: Research from ResearchAndMarkets found that outbound remittances through licensed channels reached USD 10.11 billion in 2024, up 28.5% from USD 7.87 billion in 2023. This segment is forecast to grow at a CAGR of 16.2% through to 2028, reaching USD 18.46 billion.
The digital platform segment specifically: Grand View Research data shows that Australia’s online/digital remittance platform segment generated USD 386.6 million in 2024, growing at 17.6% annually to reach an estimated USD 991.8 million by 2030.
Taken together, these figures tell a consistent story: Australia’s remittance market is large, growing, and rapidly shifting toward digital channels.
Sources: remitso.com Australia Remittance Market 2026 guide (citing LemFi/ABS data) | ResearchAndMarkets Australia International Remittance Market | Grand View Research
Who is sending money from Australia?
Australia’s population surged by 445,900 people in 2024 to 27.4 million, with net overseas migration of 340,800 — and the proportion of overseas-born residents has reached 31.5%, or 8.6 million people, the highest figure since 1891.
The top five countries of birth among Australia’s overseas-born population are England, India, China, New Zealand and the Philippines. These communities drive the largest remittance corridors.
With net overseas migration expected to have reached more than 1.3 million people between the 2023 and 2025 financial years, remittance outflows from Australia are expected to continue growing.
Where is the money going?
Australia’s top remittance corridors by volume reflect its migrant demographics:
India is the largest single recipient of remittances from Australia, receiving approximately USD 7.3 billion from Australian senders in 2024 — the highest verified figure for any single Australia corridor. Globally, India was the top remittance-receiving country in 2024, attracting more than USD 137 billion from overseas workers worldwide.
China is the second largest corridor from Australia, with approximately USD 5.35 billion sent in 2024.
The Philippines is a major corridor for Australian senders, driven by Australia’s large Filipino community. The Philippines received roughly USD 40 billion in total global remittances in 2024 per World Bank estimates.
Other significant corridors from Australia include Nepal, Vietnam, Sri Lanka, Bangladesh, Pakistan and the Pacific Islands — all regions well served by OrbitRemit’s network of 52 destination countries.
The shift to digital
The structural story in Australia’s remittance market is not just growth — it is the rapid shift from traditional bank and cash channels to digital platforms.
Australia’s digital remittance market is growing at a CAGR of 17.6% from 2025 to 2030, having generated USD 386.6 million in 2024 and forecast to reach USD 991.8 million by 2030.
For high-volume corridors like Australia to India and Australia to China, digital operators now regularly offer total costs — fee plus exchange rate margin — below 1%, compared to 2.5–4% at bank branches. The shift to digital is not a future trend — it is already well underway, driven by a younger, mobile-first migrant population that is familiar with app-based financial services.
Key drivers of the digital shift:
- Faster delivery (minutes vs days for bank transfers)
- Lower fees and more competitive exchange rates
- Mobile-first app experiences
- Mobile wallet delivery options (GCash, M-PAiSA, bKash and others)
What this means for migrants in Australia
Australia’s remittance market will continue to grow. Net overseas migration remains high, Australia’s overseas-born population is at its largest in over a century, and the corridors with the highest remittance volumes — India, China, Philippines — are all continuing to see strong demand.
For the migrants driving these flows, the shift to digital means more choice, lower costs, and faster delivery than at any point in history. Sending money home no longer requires a visit to a bank branch or a cash agent — it takes minutes from a phone.
OrbitRemit supports transfers from Australia to 52 countries across Asia-Pacific, South Asia, Europe and beyond — with flat fees, rates fixed at confirmation, and delivery options including bank deposit, mobile wallets (GCash, bKash, M-PAiSA and more) and cash pickup at over 15,000 locations worldwide.
FAQ’s (Frequently asked questions)
How much money is sent overseas from Australia each year?
Estimates vary by methodology. Total outbound remittances from Australia (including informal flows) are estimated at approximately AUD 56.6 billion in 2024. Licensed channel remittances reached USD 10.11 billion in 2024, up 28.5% from the year before.
What is the largest remittance corridor from Australia?
India is the largest single corridor, receiving approximately USD 7.3 billion from Australia in 2024. China is the second largest at approximately USD 5.35 billion.
How many overseas-born residents are in Australia?
As of 2024, approximately 8.6 million people — 31.5% of Australia’s population — were born overseas, the highest proportion since 1891. England, India, China, New Zealand and the Philippines are the top countries of birth.
Is the Australia remittance market growing?
Yes. Licensed channel outbound remittances grew 28.5% in 2024 alone. The digital platform segment is growing at over 17% annually. High net overseas migration is expected to sustain strong demand.
How can I send money overseas from Australia with OrbitRemit?
Create a free account at orbitremit.com, select your destination country, enter the amount you want to send, and confirm your transfer. The fee and exchange rate are shown upfront. Transfers to 52 countries supported.
Send money overseas from Australia with OrbitRemit
OrbitRemit has been helping Australians send money home since 2008. With transfers to 52 countries, flat fees, competitive exchange rates, and delivery to bank accounts, mobile wallets and cash pickup locations worldwide, OrbitRemit is built for the communities driving Australia’s growing remittance market.
- 52 destination countries from Australia
- Flat fees shown upfront — no hidden charges
- Mobile wallets, bank deposit and cash pickup supported
- Fee-free above AUD 10,000
- Regulated by ASIC (AFSL: 470646)
- Rated Excellent on Trustpilot from over 33,000 reviews
This post draws on publicly available market research and government data. Figures vary by source and methodology. Always refer to original sources for research purposes. Last updated June 2026.
Sources: remitso.com Australia Remittance Market 2026 | ResearchAndMarkets Australia International Remittance Market | Grand View Research digital remittance data | ABS population statistics | World Bank Migration and Development Brief | AMES Australia remittance report (July 2025)
