Are Australians willing to financially help families overseas, despite the rising cost of living?

Are Australians willing to financially
help families overseas, despite the
rising cost of living?
A Money Transfer Comparison study
May 2022
Money Transfer Comparison commissioned an independent survey of 625 Australians who have
family overseas to gauge whether they plan to help them financially, despite the rising cost of living.
Respondents were asked to select the type of help they were willing to provide, including sending
money, paying bills, or sending gifts. Respondents were also asked how much money they would
send over the next two years if their families required assistance.
The survey respondents cover a geographical and population spread that is reflective of the
Australian population.
About the study
In the survey, more than half (54 per cent) of respondents said they plan to help their family
overseas. Specifically, 35 per cent of respondents would send money overseas, 12 per cent would pay
their bills at least once, while 6 per cent would send their family goods. Forty-six (46) per cent do not
plan to send overseas family members any financial support or goods.
What proportion of Australians plan to financially support
their families overseas?
A
46%
D
35%
C
13%
B
6%
A
B
C
D
Yes, I plan to send money
Yes, I plan to pay necessary bills
Yes, I will send them goods
No
What proportion of Australians plan to financially support
their families overseas?
Younger Australians appear to be more willing to help their families overseas: 65 per cent of 18-30-
year-olds said they would provide some form of support, compared with 59 per cent of 31-50-year-
olds and 41 per cent of over-50s.
Across the States, Victorians were more willing to help family overseas by sending money, goods or
paying bills. Sixty (60 per cent) of Victorians said they would aid them financially, compared with 54
per cent of NSW residents, 52 per cent of QLD residents, 44 per cent of WA residents and 36 per cent
of South Australians.
What proportion of Australians plan to financially support
their families overseas?
What proportion of Australians plan to financially support
their families overseas?
32% said they would be willing to send less than $500 to their family overseas if they really
needed it in the next two years
16% said they would send $10,000 or more
30% said they would send $5000 or more
37% said they would send $1000-3000
How much money would Australians be willing to send to
family overseas over the next two years?
A higher proportion of younger age groups planned to send more in funds: 52 per cent of 18-30-year-
olds said they would send their families more than $3000, compared with 49 per cent of 31-50-year-
olds and 38 per cent of over-50s.
Fourteen (14) per cent of respondents aged 18-30 were willing to spend $10k or more, whilst 20 per
cent of 31-50-year-olds were willing to spend the same.
31-50-year-olds were most willing to spend $10k or more (chosen by 20 per cent), whilst the 50+ age
group (chosen by 15 per cent) and 18-30 year-olds (chosen by 14 per cent) were less likely to spend as
much.
How much money would Australians be willing to send to
family overseas over the next two years?
62%
61%
52%
57%
49%
South Australians and Queenslanders
were less likely to send significant funds to
family overseas: 62 per cent and 61 per
cent respectively were willing to send up
to $1000. Compared to 57 per cent of WA
residents, 52 per cent of NSW residents,
and 49 per cent of Victorians who said the
same.
Australian residents willing to send up to $1000 to family
overseas
Half (51 per cent) of Victorians, and NSW residents (49 per cent) were willing to send $3000 or above
in funds, whilst 43 per cent of WA residents were willing to spend the same. In contrast, 40 per cent of
Queenslanders and 38 per cent of South Australians were willing to send more than $3000.
Residents in NSW and WA were most likely to spend $10k or more, chosen by 19 per cent and 18 per
cent respectively. Victorians (chosen by 15 per cent), South Australians (chosen by 11 per cent) and
Queenslanders (chosen by 10 per cent) were less likely to spend $10k or more.
How much money would Australians be willing to send to
family overseas over the next two years?
How much would you be willing to send to your family
overseas over the next two years, if they really needed it?

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