International Day of Family Remittances
International Day of Family Remittances (IDFR)
The International Day of Family Remittances (IDFR) is celebrated on 16 June each year. The IDFR recognizes the crucial contribution of over 200 million migrant workers who send money to over 800 million family members in low- and middle-income countries. It highlights the resilience of migrant workers in the face of uncertainty while promoting reduced transfer costs and greater financial inclusion through remittances.
Remittances are a lifeline to the developing world and are used to pay for basic household needs, education and entrepreneurship. While individual remittances may be relatively small (the average remittance is US$200-US$300 a month), collectively, these flows are three times greater than global official development assistance.
Over the past 20 years, remittance flows have increased five-fold. Even during economic downturns, remittances continue to flow as they bind migrants to their families back home, helping them stay afloat. In 2022, migrant workers sent US$626 billion home, a growth of 10.2 percent compared to 2021.
Behavioural shifts among migrants and the diaspora—such as sending savings and using mobile transfers—have further bolstered remittances. The COVID-19 pandemic catalysed the use of formal remittances, with mobile remittances alone increasing by 48 per cent in 2021. Digitalization is less costly than cash transfers and has advanced the financial inclusion of migrants and their families.
Find out more and visit the IDFR webpage.
IDFR Facts and figures
Facts and figures
- Each year, 200 million migrant workers in 40 rich countries send remittances to over 800 million relatives in 125 low- and middle- income countries.
- Remittances directly impact the lives of more than one billion people, either as senders or receivers.
- Global remittances are three times greater than Official Development Assistance.
- In 2022, more than half of the US$626 billion remittances sent to low- and middle-income countries went to rural areas.
- Remittances make up an average of 60 per cent of household income.
Cape Verde: digital remittances have the potential to boost rural development, says IFAD report
Low-cost mobile remittances to boost rural development in The Gambia
IFAD and EU provide support to Malian diaspora to boost investments in agricultural sector
12 reasons why remittances are important
11 reasons why remittances are important
Helping remittances reach rural areas in Moldova
Sending money home: ten reasons why remittances matter
International Day of Family Remittances – Observance events 2022
eGFRID - Remittances and investment: how migrants finance sustainable development
Women's financial inclusion and the role of remittances
RemitSCOPE: Kenya Country Diagnostic
RemitSCOPE: Morocco Country Diagnostic
RemitSCOPE: Senegal Country Diagnostic
RemitSCOPE: Uganda Country Diagnostic
- Trello Board
- IDFR flash reports for 2022:
Remittances and Inclusive Digital Finance Officer (South Africa, The Gambia)
Senior Technical Specialist on Remittances, Diaspora and Inclusive Finance
Remittance and Inclusive Digital Finance Specialist (Morocco, Senegal)