Wednesday, April 30, 2008

Fewer Latino Immigrants Exporting Dollars

A new study shows that fewer Latino immigrants are sending money back to relatives in Latin American countries. Despite the decrease in senders, the total U.S. dollars being exported is expected to rise to an all-time high of $46 billion in 2008.
"The longstanding pattern of increasing numbers of Latin American immigrants sending increasing amounts of money back home has stopped," said Donald Terry, the general manager of the Multilateral Investment Fund

One interesting statistic from the study states that 49 percent of Latino immigrants who have been in the country for less than five years are considering going back home. Of all the Latino immigrants in the U.S., one-third are considering returning home.


Anonymous said...

I never understood why the large Latin countries such as Mexico, Brazil and Argentina were not as well-off as the US and Canada. They too are the "New World" which welcomed immigrants from around the globe to start a new life. Yet, the immigrants to Latin America have seemingly failed to develop their nations despite the abundance of resources.

Large scale Latin immigration to the US and Canada really represents an admission of this failure.

I would hope that Latin America could someday achieve the economic success of the US and Canada. I think if one third of the latin immigrants here went home, they would take some good knowledge with them to help make positive changes at home. In addition, they are probably some of the best and most risk tolerant of the latin population. So going home should help those countries acquire a more robust entrepreneurial spirit.

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