La Jornada – Remittances in the country concentrate 10 destinations: BdeM

Mexico City. In Mexico, 10 destinations receive 1.3 out of every 10 dollars that come in from remittances, which shows the concentration of these resources in a country with 2,458 municipalities and 16 municipalities, according to the Bank of Mexico (BdeM).

Between January and September 2021, remittances amounted to 37,333 million dollars, of which 3,777 million pesos, equivalent to 13 percent, have been distributed in a dozen demarcations of nine entities in the country.

The locations are Tijuana (Baja California), Guadalajara (Jalisco), Álvaro Obregón (Mexico City), Morelia (Michoacán), Juárez (Chihuahua), Culiacán (Sinaloa), León (Guanajuato), Monterrey (Nuevo León), Zapopan ( Jalisco) and Durango (Durango).

According to the agency, in Mexico remittances reach 1.7 million households, 5.1 percent of the total in the country. Of these, more than half are in localities with 15,000 or fewer inhabitants, which contrasts with the fact that 10 large districts are the ones that receive the most foreign exchange.

Jesús Cervantes, coordinator of the Latin American and Caribbean Remittances Forum at the Center for Latin American Monetary Studies, highlighted that there is a high concentration of remittances in a small number of municipalities, with the capitals and the main metropolitan areas standing out. Which suggests, he considered, that the payment points are not very diversified in the geography of the states.

BBVA agrees with the above, since it considers that family remittances reach the main municipalities of the states in greater quantity, where they arrive because of the ease of being collected and later are distributed to other more marginalized municipalities.

The municipality with the highest income from family remittances in the country is Tijuana, Baja California, where between January and September of this year 544 million dollars have been registered, 2 percent of the 37 thousand 333 million dollars for the entire country.

Tijuana is a key point, given its border with the United States, which not only facilitates the sending of money, but thousands of Mexicans enter the neighboring country to work and later return to their homes in the national territory.

They are followed by Guadalajara, Jalisco, with 463 million dollars; Álvaro Obregón, in Mexico City, with 444; Morelia, Michoacán, 405; Ciudad Juárez, Chihuahua, 392; Culiacán, Sinaloa, 317; Leon, Guanajuato, 314; Monterrey, Nuevo Leon, 311; Zapopan, Jalisco, 288, and Durango, Durango, 284 million dollars.

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