The flow of remittances sent from Mexicans in the United States back to relatives in Mexico has long been an important factor in immigration (both legal and illegal) to the U.S.
This is money that contributes to the economy of Mexico. It’s disposable income spent in Mexico by relatives of immigrants.
Mexican politicians like it because it’s money flowing into the country, sent to Mexicans living in Mexico.
And now, despite all the dislocation caused by the response to COVID-19, remittances from Mexicans in the U.S. back to Mexico are increasing. Therefore, we can expect to see continued support for Mexican emigration to the U.S.
For the entire blog entry, click here.
Blog entry by Allan Wall, published November 13th, 2021, on US Incorporated.
Tags: Banco de Mexico, BBVA (Banco Bilbao Vizcaya Argentaria), Joe Biden, Mexican Consular Network, Mexican Emigration to the U.S., Remittances