Send money to House grew up in 2011

Dominicans continue sending money home, and despite the crisis that shook the world it is estimated that in the year 2011 family remittances will close with growth, especially when the American economy has returned to create jobs.

Dominican migrants are concentrated in New York and in the case of Europe, in Spain, country where projected some negative effect this year for the loss of jobs in general. Even so, the main sectors linked to remittances as Visa International and the Multilateral Fund of investments (Fomin), the Inter-American Bank of development (IDB) and the World Bank, presented data growth.

Brayan Peralta, executive director of remittance products, Visa for Latin America and the Caribbean, ensures that remittances are relevant for Latin America, where in the year 2010 arrived more than $59,000 million, mostly in cash. A study of "Visa turn: distribution of" u000aremittance card. "Stage business in Latin America", points out that more than 15 million people receiving remittances in the region of Latin America and the Caribbean periodically.

In the case of RD, reached US$ 2,908 million, according to reports from banks world and IDB, of which 82% came from EE. UU. and Europe, basically Spain.

71% Came from United States (concentrated in New York), said Peralta. December 2011, the World Bank reported growth to the region of 7 per cent, he said, to explain that, according to industry representatives, there is an increase in 2011 for 2010.

"In 2010, there was an increase of 0.2% for Latin America of remittances in general and it is expected that the year 2011, according to preliminary estimates by the World Bank is an increase of 7% alredor" and hence the importance of financial inclusion and efficiency in means of payment, stated.

Executive director of Visa for the u000aLatin says banking of remittances will benefit everyone, since the beneficiaries may receive money in cards, which gives them security and be able to use the money when they need most it, in addition to saving and later access a line of credit, with an impact of transparency in the economy overall.

The greatest amount of remittances come to the capital of Dominican, great Holy Sunday, followed by Santiago and their municipalities, as well as to the southern region, where there is a great migration residing in Spain. "Santo Domingo and Santiago are the main destinations for the receipt of remittances," said Peralta from Miami

According to their data, 70% of remittances reaching RD is performed at home, what has changed a lot with participation of Vimenca, before it was Western Union, Banco BHD, Banco Caribbean, with Caribbean Express, Banco Popular, among others that have been taken in a traditional market relevance of u000adelivery, contrary to as it is the case in Mexico where 70 per cent is with cards.

Visa conducts business with Mexico, Guatemala, El Salvador, Honduras, Nicaragua and others, where the level of satisfaccción was 90%. In this regard, José María Ayuso, Executive Vice President of Visa International for Latin America and the Caribbean region, said that they working for the receiving remittances by banks or by cards. In the case of this country Visa has a very advanced with Bank BHD and also works with Vimenca and the Caribbean Bank. "If all remittances can be passionate that would be a big step, because 600,000 persons receive remittance money half begins to receive cards may demonstrate a bank that they have fixed incomes and receive credits", said.

The average number of shipments is US$ 200 to US$ 250 each month to Dominican Republic from USA.UU, Spain and other nations such as Puerto Rico, Italy, Holland.

Of the u000a$25,000 Million arriving in Mexico in remittances, 20%, almost $4,000 million entering by Visa card, Ayuso said. With the crisis of the United States.UU. shipments fell 10% in 2008-2009 and it is now in 2009, more affecting Mexico levels.

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