The International Day of Family Remittances (IDFR) is a global observance highlighting the significant impact of financial contributions made by migrant workers to their families and communities. By sending portions of their earnings back home, these individuals play a vital role in driving economic growth, reducing poverty, and improving the overall well-being of millions around the world. The observance focuses on acknowledging their invaluable efforts, raising awareness about the benefits of remittances, and promoting policies to enhance their positive effects.
The United Nations General Assembly first proclaimed the IDFR on 16 June 2018 in response to the financial contributions and sacrifices made by 200 million migrants across the world, benefitting nearly 800 million family members. The United Kingdom is home to many migrants that consistently contribute to both the UK economy and their countries of origin through remittance payments. The International Day of Family Remittances holds particular relevance in the UK, as it seeks to foster empathy and understanding for the struggles migrant workers often face, while urging policymakers to reduce transaction costs and improve access to financial services for those sending money overseas.
On the International Day of Family Remittances, organisations and institutions across the UK partake in various activities and events to celebrate the contributions of migrant workers and encourage greater support for their financial inclusion. These may include educational seminars, policy discussions, and promotional content highlighting the importance of remittances in global development. Across the nation, people are encouraged to learn about the positive effects of remittances in advancing education, healthcare, and infrastructure in developing nations, and how UK-based migrant workers are making a difference. The observance takes place annually on the 16th of June, bringing together policymakers, migrant workers, and the general public to recognise the integral part remittances play in forging a better future for countless 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