International Day of Family Remittances

International Day of Family Remittances History

The International Day of Family Remittances (IDFR) is a global observance that aims to raise awareness about the essential role and significant impact family remittances have on the well-being of millions of families across the world. The day is primarily devoted to appreciating the financial contributions made by the migrant workers who send money back to their families in their home countries. On this day, various stakeholders including governments, private-sector institutions, and civil society organizations join to celebrate the efforts made by these workers and advocate for more sustainable policies to facilitate these remittances.

The United Nations (UN) first proclaimed the IDFR on 16 June 2015, and it has since become an annual observance dedicated to the betterment of migrants and their families worldwide. New Zealand has been a significant contributor to the global remittance landscape, with around one in four residents being born overseas. This includes a diverse range of migrant workers from across the globe, sending their hard-earned money back home to their respective countries. These remittances play a significant role in supporting the economy and poverty alleviation efforts in many developing nations. Therefore, it is essential for the New Zealand community to acknowledge the efforts of these migrant workers and contribute to optimizing this vital socio-economic lifeline.

On the IDFR, New Zealanders participate in various activities and discussions to celebrate, support, and highlight the importance of family remittances in driving economic growth and development in the migrant communities' home countries. These activities may comprise educational programs, awareness campaigns, and seminars organized by governmental as well as non-governmental organizations to discuss the challenges and opportunities surrounding remittance services. The IDFR is generally observed on 16 June, which resonates with New Zealand’s commitment to fostering an inclusive and supportive environment for its diverse migrant population.

Facts about Family Remittances

• In countries such as Tonga, Kyrgyz Republic, and Haiti, remittances can make up more than a quarter of the GDP each year.
• Global remittances inflows are expected to grow by 2.0% in 2023.
• Family remittances are closely linked to migration patterns. The financial support provided through remittances can incentivize migration, as individuals seek better economic opportunities abroad to support their families back home.
• Many Pacific Island countries, such as Samoa, Tonga, and Fiji, heavily rely on remittances sent by their expatriate population in New Zealand. These remittances can account for a significant portion of the GDP of these countries and provide crucial support to their economies.
• New Zealand has a high percentage of immigrants in its population, with around 27% of the population born overseas. This indicates that a large number of people in the country are likely sending remittances to their families abroad.

In the News and Trending in NZ for International Day of Family Remittances

Top things to do in NZ for this observance

• Watch the IFAD's 2020 International Day of Family Remittances video if you missed it.
• Watch a documentary to learn more about immigration and remittances in New Zealand. Here are our suggestions:
  1. Both Worlds (2012-present) – This series explores the lives of young New Zealanders from migrant or refugee backgrounds, navigating their way through identity, culture, and life in New Zealand.
  2. The Last Ocean (2012) – A New Zealand documentary showing the impact of commercial fishing on communities, particularly in the Southern Ocean. It has an indirect focus on migrant communities working in the industry.
• Read a book to learn more about family remittances in New Zealand. Here are our top picks:
  1. Remittances and Economic Development in New Zealand and the Pacific by David John Fielding
  2.International Family Remittances: Issues for the Pacific by Matthew Smith
  3. Sending Money Home: A Study of Remittance Experiences of Pacific Migrants in New Zealand by Manuhuia Barcham