Overseas immigrants assist their families and the UK economy

International Organization for Migration in the UK has said that there should be much wider and dynamic recognition of the prospective advantages of the remittances made by the overseas immigrants to their families and their contribution to the economy of the UK. International Day of Family Remittances is observed on June 16 every year. It is devoted to recognizing the crucial contribution of immigrants to the welfare of their families overseas and to the betterment of the economies of their overseas residence. On June 15, 2015, all 176 member nations of the Governing Council of the IFAD unanimously proclaimed the International Day of Family Remittances. It was also observed in the Resolution on International Migration and Development of the UN General Assembly that this was a valuable opportunity to recognize the efforts of the immigrants all over the globe. Remittances made by the overseas immigrants assist in catering to the basic needs that include food, education, health and housing. Not just this, the overseas immigrants also have a positive impact on the creation of jobs, investments and savings in the UK. Overseas immigrants’ remittances symbolize crucial safety coverage in emergency situations that can assist families to face sudden calamities such as natural disaster or failure of crops. International Organization for Migration in the UK has further elaborated that the UK must utilize its unique position to strengthen the existing structure of overseas remittances. It has a large number of immigrants, active associations of the overseas Diaspora, thriving IT industry, good banking sector, and powerful financial literacy. Overseas immigrants’ remittances are beneficial not just to their families but also assist in developing a better UK inclusive socially and financially, as quoted by The Guardian. If you are looking to Study, Work, Visit, Invest or Migrate to the UK, contact Y-Axis, the world’s most trusted Immigration & Visa Consultant.