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Fewer immigrants in Lee send money to Latin America – Florida – “The implications are massive” From: news-press.com
Tagged: Florida, latin america, remittancePosted on: May 22nd, 2008
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. “*
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Filed Under: Banking, Business, Business News
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