Japan's Latin American Ex-Pats and their Impact on Remittances
by Jan Smith, Director Financial Services Practice, and Renée-Maude Lebrun, Consultant, InfoAmericas
Until recently, most of the attention on remittances was focused on the US and European channels and little information was available concerning intraregional remittances, or those from Japan. Recent estimates from the Inter-American Development Bank (IDB) reveal that Japan is the second-biggest source of remittances to the region, with Latin American expatriates sending home around $2.65 billion per year to their families at home.
An important characteristic of Latin American migrants in Japan is that they gain access to financial services sooner and more extensively than their counterparts in the United States. The response to which reveals possibilities...
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