Ticos To Receive
us$600 Million Dollars
in Remittances This Year
Some 300.000 Costa
Ricans are expected to
receive us$600 million
dollars this year from
family living and
working a abroad,
according to the Banco
Interamericano de
Desarrollo (BID) in its
report released
yesterday.
The BID calculates that
each adult receives on
average us$250 eight
times a year for a total
of us$2.000.
The BID made released
the figures at the
FELABAN Annual Assembly,
the largest gathering of
senior Latin American
bankers outside the IMF.
FELABAN - is a nonprofit
organization constituted
in 1965 in the city of
Mar del Plata, Republic
of Argentina. Through
its members - Banking
Associations and other
Organizations in 19
countries of the
continent - it is
integrated by more than
600 Latin American
financial institutions.
The BID gathered the
information by a poll of
3.403 adults between 16
July 07 and 04 September
07.
According to the
development bank, during
the first half of the
year, Costa Ricans
received us$263 million
dollars in remittances
and us$519 in the past
12 months.
For Costa Rica,
remittances are becoming
an increasing important
source of money.
However, compared to
other countries, Costa
Rica receives only 5% of
the total amount of
remittances for 2007
that is estimated at
us12.1 billion dollars.
The lower number,
according to the BID, is
not a bad thing, it
means that Costa Ricans
do not leave the country
to work abroad as they
are able to find work in
the country, unlike in
some other countries,
like Nicaragua.
According to the BID
poll, 71% of remittances
received in Costa Rica
come from the United
States, 13% from Europe,
12% from Latin America
and 3% from Canada.
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