Infographic: the better half of remittances
When it comes to overseas money transfers, the general perception is that it’s men who move out of their home country to support their families. Jesus Cervantes of World Bank’s Centre for Latin American Monetary Studies (Cemla), writes: “It is commonly thought that remittance flows stem from a migratory process where men leave their country to seek better employment and income opportunities, and then send remittances to their wives and children back home.”
Now comes the surprise – women not only contribute to half of the global remittances, but also remit a larger share of their income than men! On the occasion of the recent International Women’s Day, Instrarem, a Singapore-based digital payment provider, is out to debunk some common theories about women and remittances.