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The Good Money Brazilians and Mexicans Are Making in the US and Sending Home

Latin American immigrants living in the United States will send more than 45 billion US dollars to their relatives back home this year, a 10% increase over 2005, according to a report from the Inter-American Development Bank.

The total sum surpasses the amount the region receives in direct foreign investment and official development aid from international donors.

A third of the remittances go to Mexico, making it the country’s second largest source of income after oil. Another 15 billion is sent home by Latin Americans living in countries other than the United States, the report says.

Brazilians should send US$ 7 billion. The amount is the largest one in South America, but only half of what Mexicans are expected to send back to their homeland.

The 45 billion that Latin American immigrants will have sent home by the end of 2006 – more than 50% higher than the figure was just two years ago – will keep food on the tables of millions of their relatives, help pay the rent and in some cases, will keep entire families afloat.

The study, based on a telephone survey of immigrants, also demonstrates that the majority of those polled find life in the US a great deal more lucrative than the life they left behind.

Most of those surveyed said that while they did not have full-time jobs back home, they found one within a month of moving to the US, with 38% finding a job in less than two weeks.

The average salary for their first job, according to the study, was US$ 900 a month, about six times more than what the majority said they could expect to earn in their home countries.

Mercopress

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  • Show Comments (7)

  • Steven Zaicko

    I seriously cant believe what I am hearing
    Mr Mercado you are a good man and utinga you are scum. I am a 21 year old college student from Baltimore MD USA and I am uphalled at what I am hearing. I have nothing against people coming to the US and working to send money home to one’s family, this is very honorable and I feel that most in the US would agree with this. The problem arises when assholes like utinga take an unjust advantage of the system that is set up to support US citizens not illegal or legal aliens. Americans are very compasionate people but we get very pissed off when slime like utigna come here and rip us off. The only thing you are doing when you “work the system” is hurting your cause and the reputation of your people. You will cause cynicism towards non english speaking workers, and i hope some skinhead kicks your ass utinga. Mr Mercado I hope that your honest hard work pays off and please have faith and patience with US we support your cause and loyalty to your family.

  • Mary

    Commerce
    How much of US earned dollars do legal/illegal immigrants spend on US merchandise and ship home. I would venture to guess it is a huge amount.

  • Tomas

    Thanks Steven . .
    Steven – you’re an American university student? That says a lot about the recent decline in American productivity, education and prosperity. I think you need a remedial English course while you finish up your Ph.D. LOL! Good luck bro . . .

  • arrrg

    the illegal workers besides all those blesses can vote too??? Anyway, if these people can work I understand they should be allowed to social benefits .

  • American

    Steven is wrong
    The proble is AMerican Politicians who do not want to loose the illegal immigrant vote.
    Utinga is correct, most American votes are stupid and lazy.

  • utinga

    If you must ask how, then you are not living in the USA!! The “how” is by living nine, ten, and upwards to a one bedroom (or studio) apartment, by claiming seven children on your W2 or exempt, by taking your children to the hospital for a sore throat or simple cough where you are aware that emergencies are paid for, if you cannot, with all of our tax dollars. By driving your car with no car insurance, so when you run into me I must now pay my $1000 deductible for repairs, by taking advantages of other social, and church programs your 900 tax free dollars now have a lot more purchasing power than the average American.

    After stating all of that, let me conclude with another well known fact…this is the fault of no one but the greedy American companies and the lazy uninformed American voter. We like our À¢€œcheapÀ¢€Â consumer goods way to much to ever want to pay an extra nickle for a head of lettuce.

    So to you Walter, I say À¢€œlearn the systemÀ¢€Â and you too, will soon own a nice store, hotel or other type business in your own country as well. The “stupid theory” is a lack of knowledge on your part my friend.

  • Walter Mercado

    This is pure stupid theories. I make more than $900 and cannot survive in the US! So how is it they can survive? Rent any where is more than $900. Food is expensive, and so is trasnportation. Add to this the high cost of sending money home – if it even arrives to its destination. At $900 a month. I would have to ask my family in Mexico or El Salvador or Brasil to send me money to eat!!!!!!!

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