Fewer immigrants in Lee send money to Latin America - Florida - “The implications are massive”

In Florida, 48 percent of respondents said they transfer money home regularly, down from 70 percent in 2006. They’ll send home nearly $3.1 billion, about the same as two years ago.

“The implications are massive,” said Robert Meinz, a remittance specialist with the Development Bank. “Remittances are the world’s largest poverty reduction program … that can often mean the difference between being above or below the poverty line.”

Meinz said most remittances are used for daily needs — groceries, education and other needs. “*

Stumble it! | |