The main causes of the crash, according to respondents, are the economic slowdown and a more hostile towards immigrants in the United States, said General Manager of the MIF, Donald F. Terry, in a press conference held today at the National Press Club. Source: IDB / MIF
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Latin American immigrants are sending money regularly to their countries of origin from the United States, according to a survey on remittances commissioned by the Multilateral Investment Fund (MIF) Bank Development Bank.
The survey conducted in February 2008 some 5,000 Latin Americans in 50 states and the District of Columbia found that only 50% of respondents still send money regularly to their families, versus 73% in a similar survey done in 2006.
"Remittances from the United States to Latin America had been increasing gradually since 2000, as more immigrants sent more money more frequently. In recent months, however, that pattern changed dramatically, "said Terry.
A majority of immigrants (81%) said them harder to find good jobs now than last year. Of those surveyed, 40% said they are making less money than last year.
In contrast to the results of the first survey state-by-state on remittances in 2001, when only 37% of respondents said they considered that discrimination against immigrants was a problem in the new poll said 68% which is a major concern.
"This survey clearly shows that millions of Latin American immigrants are now fearful about their future in the United States and feel they can no longer send money to their families," said pollster Sergio Bendixen, who has been doing surveys on remittances for the MIF since 2000.
Despite the lower percentage of Latin American immigrants who transfer money regularly to their countries, those who continue to send remittances are sending larger amounts more often, according to the survey.
As a result, this year the volume of remittances from the United States to Latin America would remain at similar levels to 2007 and 2006. According to Terry and Bendixen, this year the total at about 45,900 million dollars.
Although the amount of remittances is stable, if millions of immigrants fail to send money regularly, their families will greater hardships in Latin America, especially in countries where remittances are a key source of income.
"If current trends persist this year, it is expected that millions of families throughout the region who used to receive regular remittances from falling into poverty," said Terry.
Typically, Hispanic immigrants are unskilled workers who lacked stable employment before reaching the United States. Among respondents, the average income was $ 160 a month.
in this country are earning an average of $ 1,600 per month.
"The economic magnet that attracts so many Latin Americans to the United States remains very powerful. Billion could multiply by six monthly income simply by crossing the border of this country, "said Bendixen.
state by state estimates The results of the survey, remittances from some U.S. states Latin America will fall this year as remittances from other states increase over previous years.
The largest drops in percentage, would take place in Pennsylvania, Texas, Georgia, Maryland and Virginia. The states with the largest increases would be Nevada, Colorado, Washington, Massachusetts and California (See map of remittances state-by-state ).
Remittances to Latin America will exceed U.S. $ 1,000 million in 10 states (California, Texas, New York, Florida, Illinois, New Jersey, Georgia, Arizona, North Carolina and Virginia). California, by far the state with the largest number of Latin American immigrants, will be the source of about 14,600 million dollars.
The survey on remittances to Latin America was conducted by telephone and had a margin of error of 1.4%.
