Social Protection

Remittances could fall by $100 billion because of COVID-19 – here’s why that matters

People wear a protective masks as they buy tickets at the Beijing South Railway Station, after an outbreak of the coronavirus disease (COVID-19), in Beijing, China July 3, 2020.

The total value of remittances reached $714 billion in 2019. Image: REUTERS/Thomas Peter

Harry Kretchmer
Senior Writer, Formative Content
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Global remittances
Global remittances Image: Pew Research Center

What is the World Economic Forum doing to manage emerging risks from COVID-19?

Remittance flows
World Bank data shows the complex hotspots of remittance flows. Image: WEF/Word Bank
Remittance around the world. Image: KNOMAD
Remittance flows between low-to middle income countries.
Remittance flows between low-to middle income countries. Image: World Bank-KNOMAD
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Related topics:
Social ProtectionFinancial and Monetary SystemsDevelopment FinanceCOVID-19
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