21 Feb 2025
Remittances to India play a significant role in supporting countless Indian families. In 2023, more than USD 7 billion (EUR 6.5 billion) was transferred from Belgium to India, highlighting how vital these remittances are for the recipient country and loved ones back home.
As India continues to be the biggest recipient of remittances across the world, it’s essential to understand the global money transfer trends while the expats send money to India from Belgium. These money transfers are not only essential for daily living but also contribute to boosting the country's economy. This article discusses the key trends in remittances from Belgium to India, focusing on their impact on families as well as the receiving country.
The amount of money sent from Belgium to India has been increasing. In 2024, global remittances grew by 2.3% and 2.8 percent in 2025, to reach $690 billion by 2025. This increase is partly due to more Indians living and working in high-paying jobs in Belgium. Indians working in different fields send a higher amount of their earnings back home. As more Indian professionals move to Belgium for better job opportunities, remittances will likely continue to grow. India remains the top recipient of remittances globally. These funds are crucial in supporting their families, fueling economic growth, and driving development across the nation.
Current estimates indicate that roughly 24,732 members of the Indian community live in Belgium. The Indian community in Belgium is growing, directly impacting the remittance flows. Many Indian migrants send money from Belgium to India to support families. They help with daily expenses, education, healthcare, and future savings through money transfers.
These remittances are crucial for families in India. They offer much-needed financial support. As the Indian population in Belgium continues to expand, the money sent to India is expected to rise even further.
Another significant factor is the exchange rate between the euro and the Indian rupee. A strong euro means that people in India receive more rupees for every euro sent from Belgium. This helps Indian migrants maximize the value of their remittances.
Over the past few years, favorable euro-to-rupee exchange rates have encouraged many Indians in Belgium to make a money transfer from Belgium to India when the rates are high. This allows them to make the most of their hard-earned money and send higher amounts to their loved ones in India.
While there are many positive trends, there are still some challenges in remittance. One major issue is the cost of sending money through traditional methods, which can be expensive. Although digital platforms are becoming more popular, some still rely on older, more costly procedures.
Another challenge is the fluctuation of exchange rates. While a strong euro can be beneficial, sudden drops in value can reduce the money families receive in India. Thus, it is recommended to check exchange rates before making transactions.
One of the most significant changes in recent years is the shift to digital remittance services. Sending money the old-fashioned way through banks or money transfer agencies is becoming less popular. Instead, people now prefer using online platforms because of their advantages over traditional ways.
Digital services offer many advantages:
Younger people especially prefer these digital platforms because they are quick and easy to use. As technology keeps improving, more Indians in Belgium are likely to switch to digital methods to send money to India.
These platforms often offer competitive exchange rates, lower fees, and 24/7 accessibility, making them an attractive alternative to traditional methods. Furthermore, many digital services prioritize security, ensuring that transactions are protected. This shift towards digital remittances reflects a broader trend of tech adoption among the Indian diaspora.
As the Indian expat community grows, remittances provide essential support for daily living and future aspirations. If you’re part of this community, consider how you can make a difference. Use ACE Money Transfer to send money online to India from Belgium today. With competitive fees and favorable exchange rates, your loved ones receive more of your hard-earned money, allowing them to thrive and build a brighter future. Every contribution matters, no matter the size!
India has a large population of migrant workers who send money home, along with a significant diaspora abroad. This leads to a high volume of remittances, making India the top recipient worldwide.
Yes, most money transfer services charge fees that can vary widely. It's important to compare the fee structure and exchange rates on different platforms to make informed decisions.
The transfer time varies depending on the method used. Some online transfers can be completed within seconds, while bank transfers may take one to three business days.
To compare services, consider factors such as fees, exchange rates, transfer speed, security features, customer support, and user reviews. Many websites offer side-by-side comparisons to help you choose.
Yes, sending money online is generally safe, provided you use reputable and reliable money transfer services. Look for services that offer strong security measures, including encryption and fraud protection. Always verify that the service is registered and read customer reviews to confirm reliability.
