CANBERRA, Australia—Remittances sent by people living in Australia to help family and friends in other countries has dropped by almost half in total dollars since the COVID-19 pandemic began, according to a new report.
Almost half of the amount of money sent from Australia went to five countries: China, India, Vietnam, the U.K. and the Philippines, SBS reported, citing WorldRemit data.
In 2019, $11 billion was sent abroad by Australians, and the total dropped to $6 billion in 2021, the data show.
“The drop in remittances is in stark contrast to global money transfers, with more than one trillion dollars sent this year alone,” SBS.com said.
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