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.