The Importance of
Sending Money Abroad
22 July 2025
Explore why sending money abroad is important, who benefits from it, and how it supports individuals, families, and entire economies in today’s interconnected world.
Supporting Families Across Borders Through Sending Money Abroad
One of the most common reasons people engage in sending money abroad is to support family members living in another country. Migrants and expatriates often work abroad specifically to provide financial assistance to their loved ones back home.
Benefits of sending money abroad to family:
- Covers daily living expenses, education, and healthcare
- Helps fund emergency needs
- Empowers recipients to invest or save locally
- Offers financial stability to families in lower-income regions
According to the World Bank, global remittances to low- and middle-income countries totaled over $669 billion in 2023.
Enabling Access to Education and Healthcare
Money sent from abroad is often used to pay for essential services such as school tuition, hospital bills, or critical medical treatments. Sending money abroad becomes especially important in countries where access to quality services is limited or unaffordable.
Why this matters:
- Encourages better quality of life
- Opens doors to global educational opportunities
- Reduces pressure on public services in receiving countries
Facilitating International Business and Trade
In today’s global economy, sending money abroad is vital for international business operations. Businesses of all sizes send and receive funds across borders to keep supply chains running and services fulfilled.
Use cases include:
- E-commerce payments to overseas suppliers
- Cross-border salary payments to remote employees
- Investment in foreign markets or startups
- Settling invoices for international trade
This flow of international funds supports economic interdependence and global commerce.
Emergency and Crisis Support
Natural disasters, wars, or global pandemics often create urgent needs. Sending money abroad in times of crisis provides rapid support for family members, friends, or humanitarian organizations in need.
Whether it’s a personal emergency or a global aid contribution, international transfers serve a critical humanitarian role.
Promoting Financial Inclusion
For many in rural or underserved areas, sending money abroad enables access to financial systems they might not otherwise have. Mobile wallets, cash pickup services, and digital platforms provide vital access.
Key benefits:
- Cash pickups in rural regions
- Mobile wallets where banks don’t exist
- Foreign exchange benefits for long-term saving or investment
Sending money abroad bridges the financial gap and promotes inclusion for millions around the world.
Strengthening Global Economies
Remittances generated by sending money abroad don’t just help individuals — they strengthen entire national economies.
Economic impact includes:
- Increased consumer spending in recipient countries
- Poverty and income inequality reduction
- Support for small businesses
- Boosts to GDP in remittance-dependent nations (e.g., Nepal, Philippines, El Salvador)
Emotional and Social Connection
Beyond its financial value, sending money abroad is also deeply emotional. It’s a way for people to stay connected and show care for their loved ones, despite physical distance.
Fulfilling Cultural Obligations
In many cultures, sending money abroad is tied to social and familial responsibility. It’s common practice to financially support family and community events, especially when living overseas.
People send money for:
- Holidays and religious celebrations
- Weddings, funerals, and traditional ceremonies
- Birthdays and important milestones
Sending money abroad in these contexts helps preserve cultural values and community ties.
Sending Money Abroad: More Than Just Monetary Value
The importance of sending money abroad extends far beyond convenience or necessity. It sustains families, drives economic progress, promotes financial inclusion, and strengthens emotional and cultural bonds.
Whether through a smartphone app, a traditional bank, or a cash transfer service, sending money abroad will continue to play a critical role in our increasingly connected world.
As technology continues to improve speed, affordability, and access, the global need for sending money abroad will only grow.
Disclaimer: The views and opinions expressed by the authors in this publication are their own and do not necessarily reflect the views of OTT Remit, OTT Financial Inc., and the OTT Group of Companies. This publication is provided for general information purposes only and should not be considered as exhaustive or comprehensive in covering all aspects of the discussed topics. It is not intended to replace seeking advice from a specialist or professional.
