IDFR is being globally observed today (June 16) to highlight the contributions of the migrants who support their family members back home.
Family remittances are money transfers from people living abroad to family members in their native country in order to enhance the lives of their 800 million family members back home and develop a sense of hope in their children. The UN Governing Council proclaimed June 16 as the International Day of Family Remittances to honor the contributions of these migrants.
Migrant workers are key contributions to both the areas where they now live and to their societies back home, producing a ripple impact in around 40 exporting and more than 125 recipient nations worldwide. And this day indeed raises more and more awareness about the influence that these contributions have on homes, communities, and nations.
Overall, these inflows reach billions of dollars, but the average remittance is roughly $200 to $300 per month. Also, 50 percent of these flows are directed to rural areas, where hunger and poverty are largely focused and remittances are most important.