Podcast: Remittances: The Shift to Digitisation

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Author: Sarah Corley

The money that international migrants send back home on a regular basis serves as an important source of income for millions of households around the world. More than 700 billion dollars were sent in the form of international remittances last year, a year defined by the Covid-19 pandemic and its economic consequences. Remittance inflows are larger than foreign direct investment or development assistance for many countries, and represent a large percentage of national GDP.

In this podcast, with Xavier Martin, we explore the impact of covid, the shift to digitisation and, in particular, how far we have progressed towards the SDG target of no remittance corridors with average sending costs above 3%.