16 June 2026 - Remittances and diaspora investments are private, voluntary financial flows that play a critical role in supporting families and communities worldwide. Recent estimates by the World Bank indicate that individuals and families in low- and middle-income countries received over US$650 billion in remittances in 2024 from migrants living abroad, or nearly US$2 billion per day.
Over the past decade, migrants have sent an estimated US$5 trillion to developing countries, making remittances one of the largest and most stable sources of external financing, surpassing official development assistance and, in some years, rivaling foreign direct investment. For millions of households, these funds provide an essential lifeline, helping cover the cost of food, housing, education and healthcare, particularly during times of crisis.
On 16 June, the world marks the International Day of Family Remittances, recognizing the vital contributions migrant workers make to their families, communities and economies worldwide. This year’s observance, under the theme “Remittances for Rural Resilience, Entrepreneurship and Employment”, highlights the transformative impact of remittance flows in rural areas, where poverty, climate vulnerability and limited economic opportunities often intersect.
The 2026 observance of the International Day of Family Remittances comes in the wake of the Fourth International Conference on Financing for Development, held in Sevilla, Spain, where world leaders emphasized the importance of mobilizing all sources of financing to advance sustainable development. The Compromiso de Sevilla (Sevilla Commitment) recognized the contribution of remittances and diaspora investment to the Sustainable Development Goals (SDGs) and called for efforts to reduce transfer costs, expand digital financial inclusion and strengthen support for remittance-receiving households.
Despite progress in digital transfers, remittance costs remain above the SDG target of 3 per cent, averaging 6.5 per cent globally in early 2025 and nearly 8 per cent in some African corridors. Expanding affordable digital services, improving regulatory cooperation and promoting remittance-linked financial products will be essential to unlocking the full development potential of these flows.
For more information: International Day of Family Remittances