Saturday, 9 June 2007

Remittances from Latin American workers in Spain at €5 billion by 2010

The Associated Press
Published: June 6, 2007

MADRID, Spain: Remittances that Latin American workers in Spain send back home are expected to rise to €5 billion (US$6.76 billion) by 2010 from €3.7 billion (US$5 billion) last year, a survey by the Interamerican Development Bank showed Wednesday.
Latin American immigration to Spain has almost tripled in the past five years. The 1.8 million Latin Americans working in Spain now represent 7 percent of the country's total workforce, the IDB said.
The IDB survey, conducted by the Florida-based Bendixen & Associates consultancy, found that Latin American workers have wider and cheaper access to financial and remittance services in Spain than in the United States. [Read more]

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