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Immigration Policy Center Releases Report Regarding U.S. Earnings Being Sent Abroad

The Immigration Policy Center (IPC) has released a report titled “Many Happy Returns: Remittances and Their Impact” by Kristin Johnson, Ph.D., which discusses remittances (i.e. the transfer of money by foreign nationals back to home countries). In it, Dr. Johnson concludes that remittances can constitute one of the top financial inflows to developing countries. Dr. Johnson states that in some cases these remittances exceed the amount of international aid being given to these countries. Of the countries worldwide, Mexico and the Philippines are the top receiving countries from the U.S., however, these countries are also the largest consumers of U.S. products and other goods. While some individuals argue that remittances damage the U.S. economy, Dr. Johnson states that the latest IPC report shows that these remittances are used to purchase U.S. goods, benefitting both the receiving country and the U.S. With respect to the recent earthquake devastation in Haiti, Dr. Johnson explains that remittances are (or will be) a critical resource for rebuilding the country. To view the entire IPC report, please see this link: http://www.immigrationpolicy.org/special-reports/many-happy-returns-remittances-and-their-impact.