A global perspective
Remittances – a lifeline for millions around the world
Remittances are human to human transactions and act as a lifeline for many families in countries on every continent. In low- and middle-income countries they grew an estimated 3.8% in the past year² to reach a staggering $669 billion in 2023.
Visa’s Money Travels: 2024 Digital Remittances Adoption Report survey looks at some of the progress, and challenges, that exist today.
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Digital remittances can make a difference in migrant lives
New Visa Economic Empowerment Institute (VEEI) study finds digital remittances are making remittances faster and cheaper for migrant workers and offers recommendations for continuing this progress.
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- The Money Travels: 2024 Annual Remittances Adoption Report surveyed 43,789 remittance users across North and Latin America, Europe, the Middle East and Asia Pacific.
- The World Bank. (December 18, 2023). Remittance Flows Continue to Grow in 2023 Albeit at Slower Pace [Press release].