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Latinos in the United States support two major economies

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To be Latino in the United States implies a double sacrifice. We work twice as hard in many cases, speak two languages (Spanish, our mother tongue and one that is more practical to communicate with our families and our community, and English to live and progress in this country). Twice the learning process, twice the process of adaptation and at the same time, support with our jobs two economic systems: the economic system of the United States, the country that gave us refuge (according the magazine Hispanic Business, in 2008 Latinos businesses moved more than 386 thousand of millions), and the Latin American system where our families live.
Just last year, Latinos sent a total of more than 46 million dollars to their families in Latin America. Even though the amount of money sent this past year decreased due to the economic crises that we lived in the United States and the world, the amount of money sent continues to represent an important economic help to our families and to the economy of each county in Latin America. In some countries of Central America, South America and the Caribbean, these monies represent a good source of income. One of the most benefited countries is Mexico where the money sent from the United States, plays a major role in the Mexican economic system even though the government does not take this income as part of the official economic reports because the financial aid goes directly to the families.
Let us keep in mind that one of the great commercial partners of the United States is Latin America, it is easy to understand that Latin America will consume American products and part of the money that we send there will return to enrich the United States economy.


Larry D'Arrigo

 

 

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