Fri, 05/21/2010 - 20:25.
It is estimated that worldwide remittances amount to more than $126 billion. Remittances have become a considerable force in the economy of many countries. Among the countries that receive the most in remittances are Mexico, the Philippines and India.
Last year Mexico received more than $17 billion in remittances. The amount of remittances in Mexico exceeds the amount of foreign direct investment in the country.
This is not surprising given that a significant portion of Hispanics in the United States are of Mexican descent. Other Latin American countries like El Salvador are popular destinations for remittances. In 2005 approximately $2.5 billion was sent to El Salvador. The amount represented more than 13% of El Salvador’s GDP, or gross domestic product.
It is estimated that Latin Americans residing in the United States send $30 billion dollars to their native countries.
Follow the money, people.
It bears opening up the list of those who benefit from illegals:
Employers who are willing to hire illegals
Schools trying to obtain more money by head count (usually school lunch programs)
Latin American countries The illegals themselves
I am sure we can add to the list. The point is how do we turn their assets into liabilities?