Latin America and the Caribbean.ppt

Remittances and rural development in Latin American and the Caribbean This presentation and the accompanying paper deals with the social and economic impact of migration and remittances in the LAC region. It analyses, in a gender perspective, the continuous interaction of migrants with their communities of origin and the unique role migrants play as agents of change. It suggests IFAD should broaden its target group to a transnational level, expanding its partnership with migrants who have direct interest in the well-being of rural communities they left behind. Migration and remittances Latin America the Caribbean has become important source of out-migration In 2000, 14.5 million of the foreign-born population living in U.S. were born in Latin America or the Caribbean Volume of migration is grossly underestimated – figures don’t account for illegal or temporary migrants Latinos = 13 % of U.S. population (32.8 million) Remittances in 2002: USD 100 billion worldwide USD 32 billion to the LAC region Importance of remittances in LAC region On average a migrant sends USD 200, 8 times a year Nearly 10% of average yearly income. Median income of migrants in U.S.(1999): USD 21 000 Male USD 17 000 Female In terms of GDP: El Salvador 15%; Nicaragua 29 %; Haiti 24 %. Surpassed level of FDI and ODA to region Average annual household remittances and GDP per capita Profile of remittance senders Older migrants are less likely to remit Men are more likely to remit than women. (not the case in the D.R.) Higher education correlates with a lower likelihood of remitting The longer the period spent away from the country of origin, the less likely a migrant is to remit When a migrant has immediate family in the U.S., the likelihood of remitting decreases The emergence of transnational communities Today’s migrants no longer sever ties with home country Communities spanning borders: immigrants build social fields that link together country of origin and country of