Remittances from family members working in the U.S. constitute a significant portion of the GDP in many Latin American countries. In Haiti, remittances compose a record 30 percent of GDP, followed by Honduras (25.6%), Guyana (24.5%), Jamaica (18.5%), and El Salvador (18.2%). As a whole, Latin America receives USD 58.9 billion every year, dwarfing both U.S. FDI (USD 19.2 billion, 17% of total) and foreign aid (USD 448 million) to the region combined. While remittances do not ultimately solve economic deficiencies in these countries, many families rely on them to survive. These payments also help families send their children to school, obtain better healthcare, and improve their homes. Complementing direct cash payments to family members, cross border organizations, known as Home Town Associations (HTA), link immigrants to their home communities by creating communal funds to improve local infrastructure and undertake development projects. Moreover, remittances create an even larger economic and social community throughout the Americas, held together by a circular flow of people and money.
http://cohaforum.org/2011/08/0...es-to-latin-america/
http://cohaforum.org/2011/08/0...es-to-latin-america/