Recently new government data showed that about 4 in 10 Canadians wire money back home to family and/or friends. The majority of these funds are going to the Philippines and Haiti.
Of the immigrants who entered Canada during 2000-2001, 41 percent say they have sent money at least once in their first your years, according to Canadian statistics. The average amount sent was $2,500 within the first two years and $2,900 within 2-4 years.
This government data, the first to measure the activity of remittances in Canada, comes just as remittances are flourishing across the globe. For countries such as Lesotho, Haiti, and Jordan remittances comprise almost one-third of the gross domestic product. Other countries include Jamaica, the Philippines, and the Dominican Republic, according to the World Bank Figures. [Read more]
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