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The Top Struggles of Remote Workers

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The Top Struggles of Remote Workers

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The Briefing

  • The top challenge remote workers face is unplugging from work, followed by loneliness, and communicating with coworkers.
  • Despite these challenges, 98% of remote workers wish to continue working remotely, at least some of the time.

The Top Struggles of Remote Workers

Unplugging from work can be challenging at the best of times.

But when your living room doubles as your office, it can be even harder–at least that’s the case for 22% of remote workers.

Thanks to the global pandemic, millions of workers have been sent home to work at a safe distance. While many remote workers enjoy the flexibility that comes with remote work, it doesn’t come without its drawbacks.

Here’s a ranking of the top struggles that remote workers face, according to a recent report by Buffer and AngelList:

RankChallenge% of Respondents
1Unplugging from work22%
2Loneliness19%
3Collaborating and/or communicating17%
4Distractions at home10%
5Different time zones from team8%
6Staying motivated8%
7Taking vacation time7%
8Reliable WiFi3%

The report also found that only 15% of employers paid the cost of home internet, and 21% covered the cost of a phone plan in a work-from-home situation. However, with this type of arrangement still being relatively new for most, these perks could evolve over time.

Despite the various challenges involved, 98% of remote workers would like to continue working remotely, at least some of the time, for the rest of their careers.

In short—while remote work poses its own set of struggles, the benefits outweigh the cons.

»For a more in-depth look at the topic of remote work, visit: How People and Companies Feel About Working Remotely.

Where does this data come from?

Source: The State of Remote Work Report, from Buffer and AngelList
Details: Survey results from 3,500 remote workers from across the globe.
Notes: This report was published in February of 2020 and the data was collected in November of 2019.

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Datastream

Charting the Rise of Cross-Border Money Transfers (2015-2023)

With over 280 million immigrants transferring billions of dollars annually, the remittance industry has become more valuable than ever.

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The Briefing

  • 79% of remittance payments in 2022 were made to low and middle-income countries.
  • Borderless, low-cost money transfer services like those provided by Wise can help immigrants support their families.

The Rise of Cross-Border Money Transfers

The remittance industry has experienced consistent growth recently, solidifying its position as a key component of the global financial landscape. Defined as the transfer of money from one country to another, usually to support a dependent, remittances play a pivotal role in providing food, healthcare, and education.

In this graphic, sponsored by Scottish Mortgage, we delve into the growth of the remittance industry, and the key factors propelling its success.

Powered by Immigration

With over 280 million immigrants worldwide, the remittance industry has an important place in our global society.

By exporting billions of dollars annually back to their starting nations, immigrants can greatly improve the livelihoods of their families and communities.

This is particularly true for low and middle-income countries, who in 2022 received, on average, 79% of remittance payments, according to Knomad, an initiative of the World Bank.

YearLow/Middle Income (US$ Billion)World Total (US$ Billion)
2015$447B$602B
2016$440B$596B
2017$477B$638B
2018$524B$694B
2019$546B$722B
2020$542B$711B
2021$597B$781B
2022$626B$794B
2023$639B$815B

India is one of the global leaders in receiving remittance payments. In 2022 alone, over $100 billion in remittances were sent to India, supporting many families. 

Enter Wise

As the global remittance industry continues to grow, it is important to acknowledge the role played by innovative money transfer operators like Wise.

With an inclusive, user-centric platform and competitive exchange rates, Wise makes it easy and cost-effective for millions of individuals to send money home, worldwide.

Connection Without Borders

But Wise doesn’t just offer remittance solutions, the company offers a host of account services and a payment infrastructure that has helped over 6.1 million active customers move over $30 billion in the first quarter of 2023 alone.

Want to invest in transformative companies like Wise?

Discover Scottish Mortgage Investment Trust, a portfolio of some of the world’s most exciting growth companies.

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