International Day of Family Remittances

Imagine a day dedicated to celebrating the hard work and love that connect families across borders. The International Day of Family Remittances, celebrated every June 16th, does just that.

It highlights the efforts of over 200 million migrant workers who send money home to support their families. These contributions are vital, helping over 800 million people worldwide improve their lives and build a better future.

This special day is not just about recognizing the financial support provided by migrants. It’s about understanding the significant impact these funds have on communities and economies around the globe.

The money sent home goes towards education, healthcare, and basic living expenses. Therefore, it is crucial in lifting families out of poverty and driving economic growth in developing countries.

Why do we celebrate it? Because these remittances are a lifeline for millions. They help families afford food, shelter, and education, often in places where such essentials are hard to come by.

The day also highlights the need to reduce the cost of sending money internationally. That would make it easier and more affordable for migrant workers to support their loved ones back home.

By acknowledging their contributions, we not only honor the migrants but also encourage more supportive policies and practices worldwide.

History of International Day of Family Remittances

The International Day of Family Remittances (IDFR) has a rich history that reflects the evolving recognition of the vital role that remittances play in the lives of families and communities around the globe.

Celebrated annually on June 16, the IDFR was officially recognized by the United Nations General Assembly. This highlights the contributions of over 200 million migrants who improve the lives of their family members back home.

This day not only acknowledges the significant financial contributions of migrants but also emphasizes the need to lower the cost of sending money home and to promote financial inclusion through remittances.

The IDFR aims to draw attention to the impact these contributions have on millions of households, communities, and countries, encouraging actions that maximize the positive effects of remittances​​.

The tradition of sending remittances is not new and has deep historical roots. For instance, countries like Italy, Spain, and Ireland have relied heavily on remittances from their emigrants since the 19th century. Italy became the first country to enact a law protecting remittances in 1901.

By 1960, Spain signed an international treaty with Argentina to reduce the cost of receiving remittances. The importance of understanding and managing remittance flows led to the World Bank establishing the first international database of remittance prices in 2008.

Remittances play a crucial role in improving the well-being of family members in the migrants’ home countries and boosting the economies of receiving countries.

They are often used to cover essential expenses such as food, healthcare, and education, contributing significantly to rural development and poverty alleviation.

The observance of IDFR reminds us of the resilience of migrant workers and the critical support they provide to their families. It highlights the interconnectedness of global communities and the shared goal of achieving sustainable development for all​​.

How to Celebrate International Day of Family Remittances

Celebrating the International Day of Family Remittances on June 16 can be meaningful and impactful. Here are some suggestions to honor this day:

Educate and Spread Awareness: Share information with your circle about the importance of remittances for families and communities globally. Highlight how these contributions support education, healthcare, and basic living needs, especially in rural areas​​.

Social Media Campaigns: Use social media platforms to increase awareness about the day. Create and share posts, stories, or videos that highlight the significance of remittances and the positive impact they have on millions of lives. Consider using relevant hashtags to reach a wider audience​​.

Support Migrant Workers: If you know migrant workers, showing appreciation for their hard work and sacrifices can be powerful. This could be as simple as offering a meal, a token of appreciation, or just a thank you to acknowledge their contributions​​.

Engage with Financial Services: Companies like Moneytrans and Small World, which specialize in financial services for migrants, often have initiatives or information campaigns around this day. Engaging with such platforms can provide insights into making remittance processes more efficient and less costly​​​​.

Participate in Events: Look for events or webinars focusing on the impact of remittances and the challenges faced by migrant workers. These events can be a great way to learn more, share experiences, and connect with others who are interested in the subject​​.

Volunteer or Donate: Consider supporting organizations that work towards improving the lives of migrant workers and their families. Volunteering your time or making a donation can contribute to making a tangible difference​​.