LONDON—People sending money from the United States, the United Kingdom and Canada have continued to adjust their remittance habits due to the COVID-19 pandemic, a new study finds.
The results from WorldRemit’s study of more than 3,000 of its customers “paint a picture of the importance of remittances to families of immigrants, alongside the impact it has on the global economy,” according to a new analysis.
About 68% of respondents sent money abroad at least monthly while another 28% sent it multiple times a year.
The pandemic has had a significant effect on the amounts of money sent, particularly the reasons people send money abroad. The most common were daily expenses, gifts, medical expenses and education, The Guardian reported.
What the Data Show
As a result of COVID-19, people sent more money abroad for the following categories during 2021:
- 44% cited the amount they send for medical expenses has increased
- 41% said the amount they send for daily expenses has increased.
- 38% said the amount they send for utilities increased
- 35% pointed out that the amount they send for education increased
“We understand the unique challenges migrants face on a day-to-day basis when supporting loved ones overseas, whether it be helping to ensure their family members get access to medical care or have money to pay for basic cost of living expenses,” said Karen Jordaan, head of WorldRemit, according to the Guardian.
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