While remittances played an important role in supporting families in many localities throughout the country given the large migration to the U.S. through decades, their use has been primarily spent in basic subsistence items such as food and clothing.

Mexico is the fourth largest remittance recipient in the world, and the rise in technology based financial services that make sending money much easier, using banks, mobile devices, stores, etc., have facilitated this. In 2015 it received nearly $25 billion in remittances, just behind India ($72 billion), China ($62 billion), and the Philippines ($30 billion). Most of these resources come from Mexican migrants living in the U.S. which represent 95.6% of Mexico’s remittances (Consejo Nacional de Población et al, 2018).

According to the study, based on different data sources, the main uses of remittances sent by Mexicans are buying clothes and groceries, followed in much less percentages by education, settling debts, health services, and buying, renovating, or building homes (CONAPO & Fundación BBVA Bancomer, 2018).

References:

CONAPO, & Fundación BBVA Bancomer. (2018). Anuario de Migración y Remesas México 2018. https://www.bbvaresearch.com/wp-content/uploads/2018/09/1809_AnuarioMigracionRemesas_2018.pdf

Consejo Nacional de Población, Fundación BBVA Bancomer y BBVA Research (2018). Anuario de Migración y Remesas. México 2018. CONAPO-Fundación BBVA Bancomer-BBVA Research. 1ra edición, México, pp.184.