Remittances Are Growing Despite Economic Uncertainties
2022 was the year global economies emerged from the COVID-19 pandemic, only to quickly face a new set of financial challenges. Rising inflation and consequently higher interest rates in countries such as the US and UK increasingly placed pressure on household budgets. The price of energy rose astronomically in some markets, as did the cost of housing. In theory, these cost of living pressures mean expatriates working overseas in developed markets have less money to send back home. Q4 2022 hedge fund letters, conferences and more However, that’s not how things played out in 2022. Instead, remit...