How a U.S. Remittance Windfall Saved Small Towns in Mexico

Go Global By Bloomberg May 11, 2022

Bloomberg wrote a story last month about Tehuitzingo, a small city of 12,700 in central Mexico that was “saved” by remittances from the United States last year as the pandemic raged.

Money transfers from Mexicans living abroad jumped 27% last year, to a record $51.6 billion, the news outlet notes. And while remittances are rising worldwide, they’re “growing fastest in Latin America, and Mexico gets more than anywhere else in the region,” they add.

The remittances sent back to Mexico last year from Mexican family members in the U.S. “helped make up for lost jobs or unexpected medical costs” in the country, they say.