In the past year, which of the following is true about remittances?(1 point)

Responses

Remittances in 2021 decreased as migration decreased.
Remittances in 2021 decreased as migration decreased.

Remittances increased in 2021 because costs increased.
Remittances increased in 2021 because costs increased.

Remittances increased in 2021 due to digitally based systems.
Remittances increased in 2021 due to digitally based systems.

Remittances decreased due to the switch away from a cash system.

1 answer

The correct statement regarding remittances in 2021 is:

Remittances increased in 2021 due to digitally based systems.

In 2021, many countries saw an increase in remittances, partly driven by the rise of digital payment systems and mobile money, which made it easier for people to send money across borders. While there may have been fluctuations in migration and costs for sending remittances, the overall trend was an increase, attributed to technological advancements.