Skip to content

Mexican economy expected to flourish further

Mexico's economy is expected to grow more than expected this year thanks to higher remittance volume.

Remittance flows and overall economic activity has been so strong in Mexico as of late that money experts are raising their expectations about how vibrant the country's economy will be this year.

According to a new survey performed by the Bank of Mexico of 29 economists, gross domestic product is expected to grow 3.72 percent this year. That's up from 3.62 percent the last time the poll was conducted.

Also moving at a robust pace were remittances. The Bank of Mexico indicated that in April, an increased flow of money transfers resulted in $2.03 billion. For the year, that puts the value of remittances Mexico has received at $7.4 billion, more than 6 percent ahead of the same four-month period in 2011.

As has been noted by a variety of financial experts, remittances are one of the biggest sources of money for Mexico, particularly from those living in the United States. In fact, the money generated from remittances has been ahead of what tourism has brought in for the country.

While remittances can help establish a country's economic footing, not to mention the financial readiness of a family, a new study suggests that people who receive money from them often have savings accounts, which is a sign that they're financially responsible.

Christian Ambrosius, who conducted the research that was published by Free University Berlin School of Business and Economics, argues that "receiving remittances is strongly correlated with the ownership of savings accounts, and, to some degree, with the availability of borrowing options."

In other words, people who receive money from their loved ones aren't spending what they earn in a wasteful manner. Instead, they're thinking about what they can do with it and then setting it aside in savings accounts so that their earnings can grow.

The researchers also argue that not only do individuals benefit from remittances – as it increases their financial responsibility – but institutions are strengthened as well.

"These effects are more important for rural households than for urban households and are more important for microfinance institutions, than for traditional banks," the study indicated.

This is just the latest handful of ways remittances are beneficial to society.

Read more from Money Transfer, Other
  1. Sep 9 2013

    Mexican economy expected to flourish further | The Official Blog

  2. Sep 13 2013

    Forget all that food, games and rides nonsense, it’s all about the political machine.

  3. Sep 22 2013

    Fantastic site. Lots of useful info here. I’m sending it to some friends ans also
    sharing in delicious. And of course, thanks for your sweat!

  4. Sep 23 2013

    I am not sure where you’re getting your info, however good topic. I must spend some time finding out much more or understanding more. Thanks for wonderful information I was in search of this information for my mission.

  5. Sep 24 2013

    Hey there! This is my first comment here so I just wanted to give a quick shout out
    and say I truly enjoy reading through your posts.

    Can you suggest any other blogs/websites/forums that deal
    with the same subjects? Thank you so much!

  6. Oct 1 2013

    You can certainly see your skills in the article you
    write. The world hopes for more passionate writers like you who are not afraid to say how they
    believe. At all times follow your heart.

  7. Oct 1 2013

    Great blog! Do you have any tips and hints for aspiring writers?
    I’m planning to start my own blog soon but I’m a little lost on everything.

    Would you advise starting with a free platform like WordPress or
    go for a paid option? There are so many options out there
    that I’m totally overwhelmed .. Any ideas? Many thanks!

  8. Oct 1 2013

    When someone writes an piece of writing he/she keeps the thought of a user in his/her
    brain that how a user can know it. Therefore that’s why
    this article is amazing. Thanks!

  9. Oct 4 2013

    I love what you guys tend to be up too. This kind of clever work and exposure!
    Keep up the fantastic works guys I’ve added you guys
    to my own blogroll.

  10. Oct 4 2013

    Dead written articles , appreciate it for entropy.

  11. Oct 4 2013

    hi and thanks for the actual blog post ive recently been searching regarding this specific advice on-line for sum hours these days as a result thanks

  12. Oct 6 2013

    Hi, i think that i noticed you visited my blog so i came to go
    back the want?.I am trying to find things to improve my web
    site!I assume its ok to use a few of your concepts!!

  13. Oct 6 2013

    Yeah bookmaking this wasn

Trackbacks & Pingbacks

  2. valves
  3. voucher codes
  4. hemoroizi tratament
  5. how do you get rid of bed bugs
  6. emma watson hot
  7. Weight Loss
  9. home
  10. Craigslist Search Engine Search Rex
  11. learn more
  12. internet business ideas
  13. make an android app
  14. apterous anhedonia aperea
  15. lavorare da casa
  16. marietta moving companies
  17. abominator byth aghanee
  18. atlanta water damage repair
  19. los angeles cardiologist group
  20. raspberry ketone reviews
  21. e cig starter kit
  22. hcg diet reviews
  23. hcg drops
  24. covert viral bonus
  25. saffron extract review
  26. the hunger games catching fire
  27. sites de rencontre gratuit en belgique
  28. bbb 2014
  29. SFP Multi Mode
  30. e-cigarettes canada
  31. giclee printing
  33. this page
  34. visit

Comments are closed.