Zoom.hu reports that the popularity of money transfer services are increasing among Hungarians, but surprisingly, it is no longer Great-Britain that Hungarians send home the most money from.
The number of Hungarians working abroad is difficult to estimate, but it might reach several hundreds of thousands, from whom it was believed that mostly emigrate to Great-Britain. The destination of their emigration might still be Great-Britain, but as the recent survey of MoneyGram pointed out, the Hungarians working in Germany send home more money than their peers living in Great-Britain.
For quite long time, the transfer and the reception of money among individuals was very expensive, as around 10-20% of the transferred sum was spent on the transfer, handling and exchange charges.
With the help of money transfer services, however, now it can be much cheaper. Through the service of MoneyGram, in the 1st 9 months of this year, there were 10 thousands of transactions to and from Hungary.
The transactions directed to Hungary show that the individuals sent around 92,355 forints, 527 euros or 733 dollars home to their family members.
Let’s see where these transactions mostly come from:
- 17% from Germany
- 11% from the United Kingdom
- 10,5% from the United States of America
- 6% from Italy
- 5% from Austria
Among the 10 most significant countries, we can find the Netherlands, Romania, France and Switzerland, too. These results were based on the study done by the partner of MoneyGram, the Corner Group, with the analysis of 1,000 Hungary-related transactions.
The study also points out that the amount of money sent from Hungary to abroad has also increased. The Hungarians, living in the country, sent around 102,159 forints, 681 euros or 853 dollars with each transaction to their family members living other countries. 7,8% of the transactions were directed to Romania while 5% to Ukraine.
Based on the study, it can be claimed that there are more transactions than before, and the number of Hungarians supporting their relatives abroad has also increased significantly.
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