International Day of Family Remittances 2024, History & Significance

Home » Prep Resources » Current Affairs » June » International Day of Family Remittances 2024

International Day of Family Remittances 2024

Every year on June 16, we celebrate the International Day of Family Remittances. It’s a special day to recognize the hard work of over 200 million migrants who send money back home to help their families. This day is acknowledged by the United Nations, and people all around the world take part in it.

International Day of Family Remittances Theme 2024

The theme of the 2023-2024 #FamilyRemittances campaign, is “Digital remittances towards financial inclusion and cost reduction”. It draws our attention to the positive effects of digitalization in reducing the costs of sending money home, improving access, and advancing financial inclusion.

History of International Day of Family Remittances

Family remittances are when people send small amounts of money to their families living in different countries. Even though these amounts might seem small, when you add them up, they are three times more than the money countries officially provide for development. Many families in developing countries depend a lot on this money. It helps them run their homes, send their kids to school, and take care of their health.

The International Day of Family Remittances is part of a big plan by the United Nations to make sure that sending money is safe and doesn’t cost too much. Over the last 20 years, the amount of money sent this way has increased five times, especially during tough times in the countries receiving the money.

Significance of International Day of Family Remittances

1. Lifesaver for Families

Around 800 million family members benefit from these remittances. This day helps us understand that the money sent by migrants is a lifeline for many families, especially when they face money problems or natural disasters.

2. Making a Promise and Money Matters

Sending money back home is like a promise migrants make to their families. Even though the total money sent is a lot, the average amount sent each month is around $200 to $300. The United Nations wants governments and businesses to help make it easier for people to send money and be part of the economy.

Why We Should Care

1. Helping with Important Stuff

Most of the money sent (about 75%) is used for really important things like buying food, paying for medical bills, and making sure kids can go to school. In tough times, migrants might send even more money to help their families when crops fail or there’s a family emergency.

2. Making the World Better

Migrants, by sending money, are helping achieve important goals set by the United Nations. These goals include ending poverty and hunger, improving health, making sure everyone gets a good education, and making the world a fairer place for everyone.

3. Supporting Many People

The International Day of Family Remittances is about supporting the goal of one billion people who want to achieve their own goals. That’s a big deal because it’s one-seventh of the whole world population. It means we’re working together to make sure everyone has a chance to live a good life.

In conclusion, the International Day of Family Remittances is a time to appreciate the hard work of migrant workers. By understanding how their money helps families and communities, we can all work towards making the world a better and more inclusive place for everyone.

16th June 2024 Special Day

The exciting arrival of the International Day of Family Remittances on June 16 is a chance to thank migrant workers. This special UN day recognizes over 200 million people who move abroad to support their families back home. It shows appreciation for their hard work and sacrifices. This day renews hope that all people can succeed with opportunity. It inspires us to value each person’s contributions, wherever they are from. By honoring selfless migrants on this day, we look forward to a future of empowerment for all. Their care for family reminds us of our shared humanity.


Download 500+ Free Ebooks (Limited Offer)👉👉