Remittances from the U.S. to Latin America and the Caribbean: Following the Money Journey
This study offers insights from a large cross-sectional survey on remittances sent by 2,145 migrants living in three major cities in the United States. The migrants in this study are from Colombia, the Dominican Republic, El Salvador, and Mexico, representing 67 percent of total remittances sent to LAC from the U.S. We focus specifically on the money journey of remittances: the channels and payment instruments with which individuals send and receive money. We largely do this by examining patterns of digital and brick-and-mortar sending and receiving channels, as well as cash versus noncash payment instruments, alongside the awareness, convenience, and costs of these platforms and methods. Through gaining a deeper understanding of how money makes its way from the hands of migrants in the United States to families and friends in their home countries, this study offers a new perspective on the choices that migrants make when sending money home that can be useful insights both for policymakers and for businesses seeking to serve this population.
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Language: | English |
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Inter-American Development Bank
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Subjects: | Economy, Financial Inclusion, Remittance, Financial Service, Migration and Migrant, Financial Institution, Digital Currency, F24 - Remittances, F22 - International Migration, F20 - International Factor Movements and International Business: General, |
Online Access: | http://dx.doi.org/10.18235/0001671 https://publications.iadb.org/en/remittances-us-latin-america-and-caribbean-following-money-journey |
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dig-bid-node-189472021-04-26T21:09:12ZRemittances from the U.S. to Latin America and the Caribbean: Following the Money Journey 2019-04-24T00:00:00+0000 http://dx.doi.org/10.18235/0001671 https://publications.iadb.org/en/remittances-us-latin-america-and-caribbean-following-money-journey Inter-American Development Bank Economy Financial Inclusion Remittance Financial Service Migration and Migrant Financial Institution Digital Currency F24 - Remittances F22 - International Migration F20 - International Factor Movements and International Business: General This study offers insights from a large cross-sectional survey on remittances sent by 2,145 migrants living in three major cities in the United States. The migrants in this study are from Colombia, the Dominican Republic, El Salvador, and Mexico, representing 67 percent of total remittances sent to LAC from the U.S. We focus specifically on the money journey of remittances: the channels and payment instruments with which individuals send and receive money. We largely do this by examining patterns of digital and brick-and-mortar sending and receiving channels, as well as cash versus noncash payment instruments, alongside the awareness, convenience, and costs of these platforms and methods. Through gaining a deeper understanding of how money makes its way from the hands of migrants in the United States to families and friends in their home countries, this study offers a new perspective on the choices that migrants make when sending money home that can be useful insights both for policymakers and for businesses seeking to serve this population. Inter-American Development Bank Xavier Martin Danielle Sobol Barbara Magnoni Elizabeth Burgess Monica Otsuka application/pdf IDB Publications United States Latin America North America en |
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Economy Financial Inclusion Remittance Financial Service Migration and Migrant Financial Institution Digital Currency F24 - Remittances F22 - International Migration F20 - International Factor Movements and International Business: General Economy Financial Inclusion Remittance Financial Service Migration and Migrant Financial Institution Digital Currency F24 - Remittances F22 - International Migration F20 - International Factor Movements and International Business: General |
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Economy Financial Inclusion Remittance Financial Service Migration and Migrant Financial Institution Digital Currency F24 - Remittances F22 - International Migration F20 - International Factor Movements and International Business: General Economy Financial Inclusion Remittance Financial Service Migration and Migrant Financial Institution Digital Currency F24 - Remittances F22 - International Migration F20 - International Factor Movements and International Business: General Inter-American Development Bank Remittances from the U.S. to Latin America and the Caribbean: Following the Money Journey |
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This study offers insights from a large cross-sectional survey on remittances sent by 2,145 migrants living in three major cities in the United States. The migrants in this study are from Colombia, the Dominican Republic, El Salvador, and Mexico, representing 67 percent of total remittances sent to LAC from the U.S. We focus specifically on the money journey of remittances: the channels and payment instruments with which individuals send and receive money. We largely do this by examining patterns of digital and brick-and-mortar sending and receiving channels, as well as cash versus noncash payment instruments, alongside the awareness, convenience, and costs of these platforms and methods. Through gaining a deeper understanding of how money makes its way from the hands of migrants in the United States to families and friends in their home countries, this study offers a new perspective on the choices that migrants make when sending money home that can be useful insights both for policymakers and for businesses seeking to serve this population. |
author2 |
Xavier Martin |
author_facet |
Xavier Martin Inter-American Development Bank |
topic_facet |
Economy Financial Inclusion Remittance Financial Service Migration and Migrant Financial Institution Digital Currency F24 - Remittances F22 - International Migration F20 - International Factor Movements and International Business: General |
author |
Inter-American Development Bank |
author_sort |
Inter-American Development Bank |
title |
Remittances from the U.S. to Latin America and the Caribbean: Following the Money Journey |
title_short |
Remittances from the U.S. to Latin America and the Caribbean: Following the Money Journey |
title_full |
Remittances from the U.S. to Latin America and the Caribbean: Following the Money Journey |
title_fullStr |
Remittances from the U.S. to Latin America and the Caribbean: Following the Money Journey |
title_full_unstemmed |
Remittances from the U.S. to Latin America and the Caribbean: Following the Money Journey |
title_sort |
remittances from the u.s. to latin america and the caribbean: following the money journey |
publisher |
Inter-American Development Bank |
url |
http://dx.doi.org/10.18235/0001671 https://publications.iadb.org/en/remittances-us-latin-america-and-caribbean-following-money-journey |
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AT interamericandevelopmentbank remittancesfromtheustolatinamericaandthecaribbeanfollowingthemoneyjourney |
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1809107919151562752 |