More overseas Vietnamese are visiting and moving back to Vietnam as the country’s economy grows rapidly — and ironically that growth is largely a consequence of financial contributions from overseas Vietnamese, whose gifts buy new homes, expand businesses and support extended families.
The remittances are a vital link between those who have left Vietnam and those left behind, and a huge part (8%) of Vietnam’s GDP. Last year, overseas Vietnamese sent $7 billion back home.
The World Bank says developing countries receive more than $300 billion in overseas remittances that raise the standard of living. The average remittance is highest in India ($1,662) followed by Vietnam ($1,369). In Vietnam, more than in other countries, much of the money funds family businesses and charity, contributing to a brighter future for the country.
More on Viet kieu remittances to Vietnam