He record remittances in Mexicothe second largest recipient of them in the world, boosts the economy of families and migrants on the border with USA, with Tijuana as the most benefited municipality in the country.
Of the almost 58.5 billion dollars in remittances received Mexico in 2022, almost entirely from the United States, Tijuana raised 753 million dollars, according to an analysis by the Economic Studies area of BBVA Mexico.
For the business sector and Tijuana families consulted by EFE, it is a fundamental entry and flow of money for the city, bordering San Diego, California, since it is used for the development and maintenance of families, and generates jobs.
The border, a primary factor
Ariosto Manrique, counselor of the Tijuana Development Council (CDT), explained to EFE that there are two factors that place the municipality as the one with the highest remittance capture in the country: the first is that it is the most dynamic border between Mexico and the United States and the most populated, with more than 1.9 million inhabitants.
“This has to do with the flow of people and the dynamics that occur in the city with the commercial and cultural exchange with San Diego,” he explained.
The second, he added, has to do with the fact that the city is next to California, “which is the most powerful state in the most powerful country in the world and this makes the dynamic much more intense and Tijuana benefits from remittances.”
Majority of remittances destined for the home
President Andrés Manuel López Obrador has stressed that remittances, which represent close to 4% of the gross domestic product (GDP) of Mexico, benefit some 10 million families in the country.
The CDT counselor highlighted that, according to studies they have carried out, about 65% of the income from remittances goes to the consumption of household goods, in rehabilitation and in the mortgage or rental of houses, and the rest goes to education and other expenses .
Flor Castillo, a mother from the state of Jalisco and living in Tijuana, benefits from the remittances her husband sends her from the United States, and most of it is invested at home.
“We are investing in remodeling, we are spending it to build other rooms for the children, who are already big, or sometimes to buy appliances because a washing machine is needed or something, besides that it is the money with which one supports oneself,” he said. to EFE.
The specialist added that a data that is studied is how much is invested in companies, citing that in Guatemala 10% of remittances goes to something business, in Ecuador 8% and in Mexico only 1%.
In terms of percentages it sounds very little, but if we convert it into real numbers it is a lot of money, ideally it should be more, so that this money is not only spent in Tijuana or Baja California, but multiplied and generated through of an investment”,
commented.
Mexicans in the US have more income
The increase in remittances from the United States, where close to 38 million Mexicans live, occurs despite the fact that specialists see a decrease in the flow of migrants from Mexico.
The average remittance in 2022 was $390, 3.28% higher than the average of $378 in 2021, according to Banco de México.
First, they share with us data that the migratory flow to the north has decreased and, on the other hand, that the Mexicans who are already there, who have jobs, are sending more and more money because they are earning more ”,
Manrique specified.
Mrs. Castillo confirmed that her husband, who works as a gardener on golf courses in California, has been sending her more money than before, given the increases in his salary.
Yes, it is more than what he sent before, since last year his salary was raised and that is very good for us and I imagine that it is also for the city, because the families have what to support themselves with ”,
concluded.
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