Question

In the past year, which of the following is true about remittances? (1 point)
• Remittances decreased due to the switch away from a cash system.
• Remittances increased in 2021 because costs increased.
• Remittances increased in 2021 due to digitally based systems.
• Remittances in 2021 decreased as migration decreased.

Answer 1

The statement that is true about remittances in the past year (2021) is:

• Remittances increased in 2021 due to digitally based systems.

This reflects the trend where many people have shifted to digital platforms for sending money, making remittance services more accessible and often cheaper compared to traditional methods.