Many Happy Returns: Remittances and Their Impact

The Immigration Policy Center (IPC) released a report, Many Happy Returns: Remittances and Their Impact by Kristin Johnson, Ph.D. which analyzes remittances and their effect on the economies of both the U.S. and receiving countries. Remittances – the transfer of money by workers back to home countries – can constitute one of the top financial inflows to many developing countries, in some cases exceeding international aid.  Mexico and the Philippines are the top receiving countries from the U.S. and are also large consumers of U.S. goods. In addtion, in the wake of Haiti’s overwhelming humanitarian crisis, remittances will assume a central role in providing critical resources to the population. Some critics argue that remittances are a loss to the U.S. economy, however, the latest IPC report shows that remittances are actually used to buy goods from U.S. companies, showing that remittances actually benefit both the sending and receiving countries.

To download report CLICK on link below:
http://www.immigrationpolicy.org/sites/default/files/docs/Remittances%20021010.pdf>