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International Day of Family Remittances is observed every June 16, highlighting the profound impact of over 200 million migrants who send money to their families back home. These remittances significantly boost household incomes, foster community development, and strengthen national economies. Take a moment to appreciate the global solidarity and economic lifeline these contributions represent, and learn how to support financial inclusion initiatives.
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Expected International Day of Family Remittances Deals
As a cause-driven observance, International Day of Family Remittances focuses on awareness and advocacy rather than commercial deals. However, organizations like the International Fund for Agricultural Development (IFAD), a UN agency, often highlight initiatives to make remittances cheaper and safer. Financial service providers such as Western Union, MoneyGram, and digital platforms like Remitly and Wise (formerly TransferWise) frequently run campaigns to educate users on secure and cost-effective transfer methods. Non-profits such as Mercy Corps and Oxfam also work on programs that leverage remittances for community development. We will update this page with confirmed live initiatives as June 16 approaches, encouraging support for financial literacy and migrant welfare.
Platform Guide for International Day of Family Remittances
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Mention @NatlToday and use #FamilyRemittancesDay. Share impactful statistics or personal stories about the power of remittances.
Mention National Today (facebook.com/nationaltoday) and use #IDFR. Post about local community projects funded by remittances or share educational infographics.
Tag National Today (linkedin.com/company/nationaltoday) and use #FamilyRemittances. Discuss economic impacts, policy recommendations, or innovative fintech solutions for migrants.
International Day of Family Remittances Hero
Dilip Ratha
History of International Day of Family Remittances
Remittances, or cross-border person-to-person payments of relatively small value, are vital to the developing world. Individual remittances may be of relatively small value, but overall these flows are three times larger than global official development assistance. Many households in the developing world depend entirely on these funds. These remittances run their household, send children to school and pay for healthcare.
International Day of Family Remittances is globally recognized and is a key initiative in the Global Compact for Safe, Orderly, and Regular Migration (Objective 20), which urges a cut in transfer costs and greater financial inclusion through remittances. Remittance flows have increased five-fold over the past two decades, serving in a counter-cyclical capacity during economic downturns in recipient countries.
International Day of Family Remittances is important as there are around 800 million family members on the receiving end of it. The day highlights the determination and resilience of the many migrant workers in the face of financial insecurities and natural as well as climate-related disasters. Remittances form the financial aspect of the social contract that binds migrants to their families back home. Overall, these inflows total in the billions, but the value of an average remittance is around $200 to $300 a month. The United Nations has repeatedly called on governments, the private sector, development organizations, and civil society to promote digital and financial solutions for these flows that foster greater social and economic inclusion.
International Day of Family Remittances timeline
Several European countries like Spain, Italy, and Ireland depend heavily on remittances from their emigrants.
Italy is the first country in the world to enact a law to protect remittances.
Spain is the first country to sign an international treaty with Argentina to lower the cost of remittances received.
In September, the World Bank establishes the first international database of remittance prices.
How Businesses Can Celebrate International Day of Family Remittances
Local businesses, especially those in areas with diverse migrant populations, can observe International Day of Family Remittances by offering financial literacy workshops or partnering with remittance service providers for educational events. Banks and credit unions can highlight services that support migrants and their families, such as low-fee checking accounts or international transfer options. Retailers can acknowledge the contributions of their migrant employees and customers, perhaps through internal communications or by supporting local community organizations focused on migrant welfare. Emphasize the economic and social value that remittances bring to both sending and receiving communities.
International Day of Family Remittances FAQs
When is International Day of Family Remittances?
In 2027, International Day of Family Remittances will be celebrated on Wednesday, June 16. It’s a day to recognize the dedication of millions of migrants supporting their loved ones back home.
How many people globally send remittances?
The number of migrants sending remittances remains substantial, with approximately 200 million individuals globally contributing to their families’ well-being. This figure underscores the widespread impact of these financial flows.
What is the global value of family remittances?
The World Bank estimates that global remittance flows to low- and middle-income countries are expected to continue their upward trend, potentially reaching over $650 billion in 2027. This consistent growth highlights their enduring economic importance.
What is the purpose of International Day of Family Remittances?
Adopted by the United Nations General Assembly, the day serves to promote policies that enhance the efficiency and reduce the cost of remittances, ensuring more money reaches the intended beneficiaries. It underscores the role of remittances in achieving the Sustainable Development Goals.
How to Observe International Day of Family Remittances
Spread awareness
Tell your family and friends about International Day of Family Remittances and its purpose so they too can be aware of this important phenomenon. If you know of migrant workers, give them a meal to honor their hard work and separation from their families.
Post on your social media accounts
Posting about the issue and the problems faced by migrants in remitting funds home on your social media accounts is an easy and impactful way to help the cause. You could create new hashtags and awareness campaigns.
Share your ideas
Share your achievements, current initiatives, and ideas with the authorities to see how you can have a direct impact on the world. As a migrant worker sending home money, you deserve recognition for your sacrifice.
5 Facts About Remittances That Will Surprise You
India tops the list
India has been the largest recipient of remittances since 2008.
Tonga tops the other list
In terms of remittances as a share of gross domestic product, Tonga is first on the list with a 38% share.
It’s extremely common
Around one in nine people around the world are supported by funds sent home by migrant workers.
The funds go to rural areas
About half of all remittances go to rural areas where 75% of the world's poor and food insecure live.
They can be costly to send
Remittances can be expensive — on average, conversions and fees cost 7% of the amount sent.
Why International Day of Family Remittances is Important
People depend on it for necessities
Around 75% of remittances are used to purchase food, cover medical expenses and pay for school fees or housing. In times of crisis, migrant workers may send more money home due to the loss of crops or family emergencies.
It appreciates migrant work
Migrants make an invaluable contribution to the U.N.’s Sustainable Development Goals through remittances. They contribute to ending poverty and hunger, health, education, clean water and sanitation, decent work and economic growth, and decreased inequalities.
It supports foreign nationals
The day supports the goal of one billion people reaching their own Sustainable Development Goals. This is one-seventh of the world population.
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