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

• Remittances increased in 2021 because costs increased.
• Remittances increased in 2021 due to digitally based systems.
• Remittances decreased due to the switch away from a cash system.
• Remittances in 2021 decreased as migration decreased.

1 answer

The statement that is true about remittances in the past year is: Remittances increased in 2021 due to digitally based systems.

During 2021, there was a notable increase in remittances facilitated by advancements in digital payment systems, which made it easier for people to send money across borders, especially during the COVID-19 pandemic when traditional methods were challenged.