International Day of Family Remittances in
Days to go:
The International Day of Family Remittances (IDFR) is a global observance that acknowledges the essential role of migrant workers in supporting their families back home. This day recognises the financial contributions these individuals make to their native countries, as well as their efforts to improve living conditions through remittance services. The observance aims to encourage the public and private sectors to collaborate, strengthening financial systems and making remittance processes more efficient, transparent, and accessible for families worldwide.
Established in 2015 by the United Nations General Assembly, this day is particularly relevant for Australia, as it is a multicultural nation with a large migrant population. In 2020, the World Bank reported that Australians sent approximately $17 billion in international remittances. These funds play a vital role in the socioeconomic development of many countries and are essential for millions of families to meet their daily needs, such as education, health, and housing. As a result, Australians should be aware of the significance of IDFR as it honours the hard work and sacrifices made by migrants and highlights the importance of maximising the positive impact of remittances.
In Australia, various educational events, workshops, and conferences are held on the International Day of Family Remittances to raise awareness around the importance of remittances and promote better understanding among the public. Financial institutions, non-government organisations, and migrant communities come together to share insights and explore ways to make remittance services more affordable and accessible. The observance takes place annually on June 16, providing an opportunity for all Australians to appreciate the vital role of remittances in the lives of millions of families around the world.
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References and related sitesIFAD: International Day of Family Remittances UN: International Day of Family Remittances www.worldbank.org: Remittances 2022