Remittance Data Visualizations
In the last decade, remittance transaction costs have significantly dropped. In 2011, sending $200 globally cost 9.3%, but by Q4 2020, it reached a record low of 6.5%, despite pandemic challenges.
However, Oceania (excluding Australia and New Zealand) and sub-Saharan Africa remained pricier at 9.1% and 8.5% in 2020, respectively. Progress has been made since 2011, but only Central and Southern Asia achieved the 5% target.
Continued efforts from authorities, service providers, and NGOs are crucial to reach the global goal of 3% and regional goals of 5% or less by 2030