Marzo 24, 2005
Bolivia - Remittances
According to the Inter-American Development Bank, the total amount of remittances increased in 2004 for practically every country in Latin America. Remittances from the United States and Europe help fuel Bolivia's economy from the money sent back from family members working abroad.
Remittances to Bolivia
2003 - $340 million dollars
2004 - $422 million dollars
This pales into comparison with Mexicans who sent approximately $16.6 billion dollars back to their home country
Posted by eduardo at Marzo 24, 2005 01:03 PM
Comments
Now we know where do all those new buildings springing up in Bolivian cities come from.
Actuall, Almada de Noche had a blog, a while ago, about a small town in Cocha, where half the people there were in the US. He took pictures of the town. Very interesting. He also talked about all the new houses rising up and the brand new town square.
Posted by: MB at Marzo 24, 2005 03:46 PM
"This pales into comparison with Mexicans who sent approximately $16.6 billion dollars back to their home country."
Yes, but there are only 8 million Bolivians, to 104 million Mexicans. But these trends likely will continue. Here's an old Wired article on this:
Posted by: Miguel Centellas at Marzo 24, 2005 08:34 PM
true.
however you have to consider that the Mexican population in US is more than 15 million people.
I don't think Bolivians reach 200K, if that.
It'll be nice to have an estimate of how much, percentage wise, is sent back to Bolivia by the bolivians in US.
Posted by: fernando lopez at Marzo 25, 2005 09:20 AM
Oh, that's still $52.75 per Bolivian to $159.62 per Mexican.
Posted by: Miguel Centellas at Marzo 26, 2005 11:23 AM