"global remittance" is correct and usable in written English.
You can use it to refer to the transfer of money from one party to another that occurs across international borders. For example, "The international bank offers global remittance services to its customers."
In 2014, the World Bank valued the global remittance economy at $435bn.
Exchange houses in Mexico are part of the global remittance business that allows immigrants in the United States to send money back to relatives in Latin America.
The United Arab Emirates and Kuwait had remittance outflows of $8.7 billion and $11.7 billion, respectively, that year, holding top-ten spots for global remittance levels.
The global remittance market may be as much as $150 billion annually, triple the development aid given by the wealthy nations to the poor and, in many countries, far more than direct foreign investment.
The World Bank is supporting international efforts on the 5x5 Objective, which has been endorsed by the G8 and G20 and aims to bring global remittance prices down to 5% by 2014.
Social entrepreneurs in developing countries are using mobile phones and the controversial digital currency bitcoin to increase the speed, and slash the price, of international money transfers, raising the prospect of a revolution in the $600bn annual global remittance market.
Total global remittances from workers to their families will reach $318 billion in 2007, up from $170 billion in 2002.
Annual global remittances are about $160bn – more than twice foreign aid flows and a big chunk of GDP in some countries.
A sturdy link between wallets and users' identity helps with integration into global remittances systems, which need to be able to track money to satisfy Western regulators.As with M-Pesa, payment schemes often graduate to providing credit, leaving banks out of the loop.
Some 10% of global remittances originate in the U.S., working out to $50 million per year.
The World Bank recently upgraded its forecast for global remittances flows from 1% to 6% this year and from 4% to 7% in 2011.
