Webinar to examine remittances' impact on the global economy

Hikmet Ersek
Hikmet Ersek
Hikmet Ersek

Western Union President and CEO Hikmet Ersek will present new research on remittances — money sent home by migrants working abroad — and their impact on the global economy in a webinar hosted by Rice University's Baker Institute for Public Policy on Wednesday.

Remittances provide a crucial lifeline of support for middle- and low-income countries, both economically and socially. Despite some experts' predictions, remittances dropped only slightly during COVID-19 lockdowns – reaching $540 billion in 2020 and surpassing the combined total of foreign direct investments ($259 billion) and overseas development aid ($179 billion).

What: "The Economic Effect of Remittances: Powering Economic Prosperity and Inclusion"

Who: Hikmet Ersek, president and CEO of Western Union.

When: Wednesday, June 9, 11 a.m.- noon (CDT).

Where: Online; the event is free, but registration is required.

Hosted by the Baker Institute and its Center for the United States and Mexico, the event will also preview the top-line results of the latest Oxford Economics report, “Remittance Effect: Regional Perspective,” commissioned by Western Union, The report offers in-depth analysis of how individuals across the world play a role in bolstering regional economies.

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