Migration and Remittance Volume (69KB)

Latin American migration to more developed countries for improved life conditions has shown exponential growth during the last three decades (1976-2006), where roughly 40 million people have sallied to the U.S., of which, 20% i.e., (eight million migrants) reside illegally.

In his book, Remesas en el Peru, Dr. Jorge Zorilla states that remittances exist due to the obligation felt by each Latin American migrant to provide money to their families.  Bendixen & Associates (BA) household survey shows that the large majority of receivers (28%) obtained remittances from either their son or daughter, followed by 21% who received remittances from a non-immediate family member, while 18% received remittances from their mother or father.