Top fact for today

By Published On: March 29, 2005Categories: Economy0 Comments on Top fact for today

Did you know that last year Latin America received more money from immigrants living in Spain, Europe and the US than it received in aid and foreign investment? No, I didn’t either. According to a report by the Inter-American Development Bank, Latin America receives $45 billion dollars a year from immigrants overseas.

Clearly, immigration to countries like the UK not only benefits us economically and culturally, but also plays a crucial role in the economies of developing countries. I was very aware of the importance of remittances when I travelled in Central America. I kept meeting people who had families in the US, or who were hoping to go to the US in order to earn money to support their families.  So far, I am less aware of it in Bolivia. The economic links here seem to be much stronger with surrounding countries (Brazil, Peru, Argentina).


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