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Spain: Migration's contribution to development

14 Maggio Mag 2008 0200 14 maggio 2008

Money sent by migrants in rich countries more than doubled national aid for development figures in 2007,demonstrating the economic importance of immigration

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Money sent by migrants in rich countries more than doubled national aid for development figures in 2007,demonstrating the economic importance of immigration

Traditionally, money sent by migrants to their countries of origin are of great support to households ?back home?. But in recent years money transfers have increased so much that they have replaced traditional exports as the main source of income in these countries.

In Spain the money sent home by migrants is more than double that of the official sum given in development aid. In 2007, migrants? remittances amounted to 10 billion euros, whilst in 2008 the official contribution to development aid will reach 5 billion euros. Spain is, today, one of the three countries that contributes most to this trend.

At present, 10% of the world population is in some way affected by migrant remittances, which means that about 125 million workers send money to support around 500 million relatives in their countries of origin.

While the governments of the receiving countries are trying to tax remittances, countries in the North are trying to include remittances as part of their external aid figures.

More info:
www.maec.es