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On June 16, we celebrate the International Day of Family Remittances, a day dedicated to recognizing and appreciating the contributions of migrant workers who send money back to their families in their home countries. This day was officially declared by the United Nations in 2015 to raise awareness about the significant role that remittances play in alleviating poverty and promoting economic development in many parts of the world. It's a day to honor and support these hardworking individuals who make sacrifices for the well-being of their loved ones. So let's take this opportunity to show our gratitude and celebrate the power of family bonds that transcend borders!
<div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1970s</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Rise of Modern Remittances</div><div class='timeline-text'>With the increase in international migration, remittances start to become a key source of income for families remaining in the home country.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>1990s</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Digitalisation of Transactions</div><div class='timeline-text'>Technological advances make remittance transactions faster and more secure, boosting their growth and making them an essential part of global finance.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2009</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Remittances Outpace Foreign Aid</div><div class='timeline-text'>For the first time, total global remittances surpass official development assistance, drawing attention to their significant role in poverty alleviation and economic development.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2014</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>IFAD's Advocacy</div><div class='timeline-text'>The International Fund for Agricultural Development (IFAD) begins advocating for the recognition of the contribution made by migrant workers through remittances.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2015</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Creation of the IDFR</div><div class='timeline-text'>The United Nations declares June 16 as the International Day of Family Remittances to raise awareness of remittances’ contribution to socioeconomic development and poverty alleviation.</div></div></div><div class='timeline-item'><div class='timeline-left'><div class='timeline-date-text'>2020</div></div><div class='timeline-center'></div><div class='timeline-right'><div class='timeline-text timeline-text-title'>Resilience During COVID-19</div><div class='timeline-text'>Despite the global pandemic and economic downturn, remittances prove resilient, underlining their importance for families in home countries.</div></div></div>
<div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>1</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Organize a family reunion</h3><p id='' class='facts-text'>Gather your family members from near and far to celebrate the International Day of Family Remittances. This is a great opportunity to catch up with relatives and celebrate the sacrifices and contributions of migrant workers.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>2</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Create a photo collage</h3><p id='' class='facts-text'>Gather old family photos and create a collage that showcases the journey of your family's remittances. This not only celebrates the day but also serves as a reminder of your family's history and resilience.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>3</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Donate to a charity supporting migrant workers</h3><p id='' class='facts-text'>In honor of International Day of Family Remittances, consider donating to a charity or organization that supports the well-being and rights of migrant workers. This is a meaningful way to show support and gratitude for their hard work and sacrifices.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>4</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Cook a traditional dish from your family's country of origin</h3><p id='' class='facts-text'>Celebrate the diversity and richness of your family's culture by cooking a traditional dish from your country of origin. This is a delicious way to honor the traditions and customs of your family.</p></div></div><div id='' class='facts-item'><div id='' class='facts-header'><h3 id='' class='facts-number'>5</h3></div><div id='' class='facts-text-wrapper'><h3 id='' class='facts-title'>Share stories and memories</h3><p id='' class='facts-text'>Gather around with your family members and share stories and memories related to remittances. This is a great way to bond and appreciate the sacrifices and contributions made by your loved ones.</p></div></div>
<div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>A</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It recognizes the significant contributions of migrant workers</h3><p id='' class='whywelove-text'>International Day of Family Remittances honors the sacrifices and hard work of migrant workers who support their families back home through remittances. This day brings attention to the vital role these workers play in improving the lives of their loved ones, despite being far away from them.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>B</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It highlights the importance of remittances for global development</h3><p id='' class='whywelove-text'>Remittances are a significant source of income for many developing countries and contribute greatly to their economic growth. International Day of Family Remittances helps raise awareness about the impact and potential of these financial flows and encourages policies that can maximize their positive effects on development.</p></div></div><div id='' class='whywelove-item'><div id='' class='whywelove-letter-cont'><div class='whywelove-letter'>C</div></div><div id='why-we-love-main-cont'><h3 id='' class='whywelove-title'>It promotes financial inclusion and empowerment for families</h3><p id='' class='whywelove-text'>The ability to send and receive remittances empowers families by providing them with access to essential financial services. International Day of Family Remittances encourages initiatives that promote financial inclusion and helps create opportunities for families to grow and improve their overall well-being.</p></div></div>
<div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>1</p></div><div class='facts-core-content'><h3 class='facts-title'>Remittances Amount to Hundreds of Billions Globally</h3><p class='facts-content'>According to the World Bank, global remittances reached $714 billion in 2019. This monumental amount showcases the significance of remittances as a crucial form of international financial flow.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>2</p></div><div class='facts-core-content'><h3 class='facts-title'>Remittances Outperform Foreign Aid</h3><p class='facts-content'>In many developing countries, the value of remittances significantly surpasses that of foreign aid, making them a crucial factor in the fight against poverty and economic development.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>3</p></div><div class='facts-core-content'><h3 class='facts-title'>Remittances Often Replace Social Services</h3><p class='facts-content'>In some nations, where social services like health care and education are inadequate or unavailable, remittances often act as a replacement for these systems, providing a lifeline for families and communities.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>4</p></div><div class='facts-core-content'><h3 class='facts-title'>Women Comprise a Large Portion of Remittance Senders</h3><p class='facts-content'>Gender has a significant impact on remittances, with women constituting about half of all remittance senders worldwide. They typically send a higher proportion of their income, even though they usually earn less than men.</p></div></div><div class='facts-item'><div class='facts-number-wrapper'><p class='facts-number'>5</p></div><div class='facts-core-content'><h3 class='facts-title'>Transaction Costs for Remittances are Decreasing</h3><p class='facts-content'>With the digitalization of money transfers and the rise of financial technology companies, the global average cost of sending remittances has been decreasing, which means more money reaches the families in need.</p></div></div>
International Day of Family Remittances is celebrated on June 16 every year. In 2024, it will fall on a Sunday.
2023
Jun 16
Friday
2024
Jun 16
Sunday
2025
Jun 16
Monday
2026
Jun 16
Tuesday
2027
Jun 16
Wednesday
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