https://cbcat.io/wp-content/uploads/2021/05/facebook-diem.png 600 1324 Julia https://cbcat.io/wp-content/uploads/2022/11/logotip_CBCat-aaff00_250px.png Julia2021-05-26 14:45:332022-02-21 20:10:27Sending cash around the world continues to attract attention
Sending cash around the world continues to attract attention
The value of the global remittance market in 2019 was $554.000 billion and is expected to drop to $470.000 billion in 2021 due to the impact of COVID-19. However, it is still a huge amount of money being transferred around the world, and sometimes by some of the lowest paid workers. The World Bank states: "If the cost of sending remittances could be reduced by 5 percentage points in relation to the value sent, remittance recipients in developing countries would receive more than $16.000 billion more each year than they do now."