Remittances from Australia plummet post-COVID

The amount of money sent by people living in Australia to help family and friends in other countries has plunged by almost half since the coronavirus pandemic began.

Janeca Gross sends part of her salary back to family in the Philippines. Credit: SBS

Key Points

• The drop in remittances is in stark contrast to global money transfers, with more than one trillion dollars sent this year alone.
• The World Bank found almost $1.2 trillion in remittance flowed through the world this year.
• in Australia, according to WorldRemit, in 2019, 11 billion dollars was sent abroad it plummeted to $6 billion in 2021.

Almost half of the amount of money sent from Australia went to five countries, China, India, Vietnam, the UK and the Philippines.

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How can I have enough money for myself and still send remittances to my family?

SBS Filipino

10:47Filipino