Remittances are transfers of money foreigners in their country of origin. The money sent by migrants is the second largest financial flows to many developing countries, exceeding international aid.
Remittances contribute to economic growth and financial and social inclusion of people in need around the world. Recent studies have shown that remittances not only play an important role in the daily lives of many people, but are particularly important for people in times of financial crisis.
In Latin America and the Caribbean, remittances play an important role in the economy of the region, totaling more than $ 66.5 billion in 2007, about 75% are from the United States. This total is greater than the sum of foreign direct investment (FDI) and official development assistance (ODA) in combination. In seven countries in Latin America and Caribbean remittances represent more than 10% of GDP and exceeds the main flow dollar export product in almost all countries in the region.
Most US remittances were directed to Asian countries such as India, the Philippines and China. Most remittances to perform conventional channels agents, however, the online money transfer has gained considerable momentum in recent years.
A third of the money sent is from the United States, most of the remainder is sent from Europe and the Middle East. A large volume flows of remittances in the developing world too.
Latin America and the Caribbean is the region that receives the highest level of per capita remittances and money flows in the region has increased ten-fold in real terms over the past 20 years. After climbing to double digits in the last decade, the flow appears to be stabilizing.
Most of the money received in this region is used to cover the daily, food and school repairs. What matters most economists, however, is the potential of remittances to contribute to economic development. Remittances tend to increase bank deposits, reflecting the investment potential.
The research also found that higher remittances are associated with less poverty, better health and higher levels of education in the developing world.
However, increasing the flow of remittances have a negative side are the families and national economies that depend on remittances from nationals working abroad are vulnerable to remote events and trends. In addition, many countries that depend on remittances see their population of working age adults shrinks. Family members may stop working and wait for monthly money abroad.
However, checks remittances now helping millions of homes around the world to keep food on the table and a roof. Although the evidence comes to greet them as a long-term solution to poverty in the world as remittances continue, should be both facilitates and regulates.
For more information on sending money, both the United States and abroad visit worldwide Send money or atmcash.com
Remittances contribute to economic growth and financial and social inclusion of people in need around the world. Recent studies have shown that remittances not only play an important role in the daily lives of many people, but are particularly important for people in times of financial crisis.
In Latin America and the Caribbean, remittances play an important role in the economy of the region, totaling more than $ 66.5 billion in 2007, about 75% are from the United States. This total is greater than the sum of foreign direct investment (FDI) and official development assistance (ODA) in combination. In seven countries in Latin America and Caribbean remittances represent more than 10% of GDP and exceeds the main flow dollar export product in almost all countries in the region.
Most US remittances were directed to Asian countries such as India, the Philippines and China. Most remittances to perform conventional channels agents, however, the online money transfer has gained considerable momentum in recent years.
A third of the money sent is from the United States, most of the remainder is sent from Europe and the Middle East. A large volume flows of remittances in the developing world too.
Latin America and the Caribbean is the region that receives the highest level of per capita remittances and money flows in the region has increased ten-fold in real terms over the past 20 years. After climbing to double digits in the last decade, the flow appears to be stabilizing.
Most of the money received in this region is used to cover the daily, food and school repairs. What matters most economists, however, is the potential of remittances to contribute to economic development. Remittances tend to increase bank deposits, reflecting the investment potential.
The research also found that higher remittances are associated with less poverty, better health and higher levels of education in the developing world.
However, increasing the flow of remittances have a negative side are the families and national economies that depend on remittances from nationals working abroad are vulnerable to remote events and trends. In addition, many countries that depend on remittances see their population of working age adults shrinks. Family members may stop working and wait for monthly money abroad.
However, checks remittances now helping millions of homes around the world to keep food on the table and a roof. Although the evidence comes to greet them as a long-term solution to poverty in the world as remittances continue, should be both facilitates and regulates.
For more information on sending money, both the United States and abroad visit worldwide Send money or atmcash.com
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