What is the Comprehensive Backstory of Immigrants and Remittance in Senegal?

Senegal is a very beautiful and attractive location. It houses a number of natural sights and is undoubtedly one of the most aesthetic locations on the world map. Due to its beauty and aesthetics and also because of multiple educational and employment opportunities, Senegal houses around two hundred and sixty thousand immigrants. These immigrants belong to different parts of the world and send money to Senegal to their loved ones.

What is ACE Money Transfer Doing for Effective Money Transfer to Senegal?

Such a high number of immigrants is also an indication of the fact that the need for money transfer to Senegal is unavoidable in this region. Keeping this in mind, a large number of services and channels to send and receive money to and from Senegal can be found. ACE Money Transfer is one of such service providers which has made sending money to Senegal easy and convenient for a large number of families. They offer secure and reliable channels of money transfer through which one can send money to Senegal in an affordable manner.

Do You Know Some Details of Senegal Population and Workforce?

Around sixty percent of the people living in Senegal are younger than twenty-five years of age. This means that Senegal is in need when it comes to the proportion of the population that is part of the workforce. Around forty percent of people work, whereas the rest of the sixty percent are dependent. This fact automatically compels a large number of people to look for better working opportunities and move abroad in search of work. Usually, they send money to Senegal online instead of other traditional methods.

Once the people settle abroad and find good jobs, they still have to take care of the expenses back home and cater to the needs of their families. They send funds back home through money transfer services in Senegal.

The immigrants from Senegal are spread all around the world. Spain, France and USA are the top choices of people from Senegal. They use money transfer services to send money back home from these destinations.

What is the Impact of International Remittance on Senegal’s Economy?

It is estimated that in the year of 2018 alone, a sum of around 2.69 billion US dollars was sent to Senegal through online money transfer system. It has been found that a large number of families have improved their living standards – thanks to foreign remittances.

Research has proven that the families who have received funds from abroad were able to experience around a sixty percent increase in their income as compared to the families who did not have family members abroad.

What Senegalese Do When They Send Money Back Home?

The money that has been sent via online money transfer to Senegal has been used for different purposes. Nearly fifty percent of the money sent was utilized for day to day expenses such as educational expenses, paying bills and other household needs etc. Twenty-five percent of the money received was for the purpose of saving, and twenty percent of the funds were sent to pay for the purchase of properties.

ACE Money Transfer is the most preferred service provider that has helped numerous families to receive funds to Senegal from foreign countries.