
Last year as many as 190m migrant workers sent cash home, according to the World Bank. These remittances amounted to US$337 billion, of which US$251 billion went to developing countries. But the cost of sending hard-earned cash depends on both the source and destination. On average, sending US$500 from Spain to Brazil will incur a modest charge of US$7.68, or a 1.5% fee. Sending the same sum from the Netherlands to Indonesia costs a whopping US$86.41, a 17.3% charge. The Netherlands, Germany and Japan tend to be the priciest places to send money from. Costs are generally lowest in Russia, Saudi Arabia, Spain, Singapore, America and Britain. (economist.com)
With hard times at our doorsteps, all we can say is a remittance mechanism that employs mobile communications…
Telecom Cook Islands Ltd, the sole provider of telecommunications in the Cook Islands, has completed commercial deployment of ADC’s UltraWave GSM softswitch. Telecom Cook Islands, which has been in operation since July 1991, is a private company owned by Telecom New Zealand Ltd. (60%) and the Cook Islands Government (40%).


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