International Day of Family Remittances: History, Facts & Insights

This is an in-depth look at all the must-know facts about International Day of Family Remittances (2024) 🗓️ that no one tells you about. International Day of Family Remittances is observed on June 16th.

Among the information you’ll find below: the history of International Day of Family Remittances, activities to do on and how to observe this holiday, as well as cool facts you might want to know about International Day of Family Remittances.

📅 What day is International Day of Family Remittances 2024?

In 2024, International Day of Family Remittances is on Friday, June 16th. It is the 3rd Friday in June; in 2024, it is Sunday. There are until the next observance. You also can learn all the fun details and facts about June 16, 2023, that you might not be aware of.

The International Day of Family Remittances is observed annually on June 16th to honor the efforts of more than 200 million migrants who support their families in various ways. Recognized globally, this special day was established by the United Nations General Assembly. Interestingly, half of these remittances are sent to rural areas, where they can greatly improve the lives of those living there. The main objective of this day is to increase awareness about the profound influence these contributions have on individuals, communities, and entire nations.

📜 International Day of Family Remittances History

The Global Compact for Safe, Orderly, and Regular Migration aims to reduce transfer costs and promote financial inclusion through remittances. The International Day of Family Remittances plays a crucial role in achieving this objective. Remittance flows have significantly increased over the past 20 years, providing vital support to recipient countries during economic downturns. With nearly 800 million family members receiving remittances, this day holds great significance. It acknowledges the resilience of migrant workers who face financial insecurity, as well as environmental and climate-related challenges. Remittances form a social and financial bond between migrants and their families back home. While the total amount of remittances is substantial, the typical monthly remittance is relatively small, ranging from $200 to $300. The United Nations has called on governments, businesses, aid organizations, and civil society to support digital and financial solutions that promote greater social and economic inclusion for these remittance flows.

✅ International Day of Family Remittances Facts

🔖 Tonga tops the other list
Tonga holds the highest position globally when it comes to the percentage of remittances in relation to its GDP, standing at an impressive 38%.

🔖 It’s extremely common
Approximately one out of every nine people worldwide rely on the funds sent back home by migrant workers for their sustenance.

🔖 India tops the list
India has been the top recipient of remittances since 2008.

👍 Why Is International Day of Family Remittances Important

Approximately 75% of remittances are used to buy food, cover medical bills, and pay for education or housing. Migrant workers may send more money home during times of crisis due to agricultural losses or family issues.

Migrants contribute significantly to the United Nations’ Sustainable Development Goals through remittances. They help to alleviate poverty and hunger, improve health and education, provide clean water and sanitation, promote economic growth, and reduce inequities.

The day helps one billion individuals achieve their personal Sustainable Development Goals. This represents one-seventh of the world’s population.

🙂 How To Observe International Day of Family Remittances

⚡ Share your ideas
Make sure to inform the authorities about your achievements, current undertakings, and innovative ideas. This will allow them to understand the significant impact you, as a migrant worker sending money back home, can have on the world. It is important for you to receive the recognition you deserve.

⚡ Spread awareness
Spread awareness about the International Day of Family Remittances to your loved ones, making sure they understand the importance of this important day. Additionally, organize a dinner in honor of migrant employees, acknowledging the challenges they face in being apart from their families and appreciating their dedicated efforts.

⚡ Post on your social media accounts
One way to support migrants and raise awareness about the challenges they face in sending money back home is by sharing posts on social media. By using your own words and experiences, you can create new hashtags and initiate public awareness campaigns to make a positive impact.

📅 When is International Day of Family Remittances?

View all 🔗 June holidays, including 🔗 Special Interest and other 🔗 Awareness holidays.

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