How the Pandemic Triggered a Digital Revolution in Money Transfers

Location Global
Authored by Greg Noone

Millions switched to digital remittances last year, saving costs and improving financial inclusion. Experts hope that trend will continue.

Location Global
Authored by Greg Noone
TagsAccess

In the Philippines, working abroad is not only a material choice – it is a national imperative. Bereft of job opportunities at home, young Filipinos see a life overseas as their only opportunity for reliable and lucrative employment. In so doing, however, few forget their obligations to the families and communities they leave behind. In 2019, some $33.5bn was sent home by roughly 2.2 million Filipinos working abroad, now domestic workers in Italy, construction workers in Japan, or sailors in the Arctic.