Future Trends in Migration, Remittances, Markets and Development: Latin America and the Caribbean

IMTC

Presented at the International Money Transfer and Payments Conference – November, 2019 

Both social and economic trends in Latin American and Caribbean countries are increasingly shaped by migration and its intersection with development and economic growth. Therefore, understanding future migration patterns and how they affect the region can offer cues as to the direction countries will take on migration and remittance issues.

An outlook on international migration to 2022 from Latin America and the Caribbean requires addressing three main factors, namely: growth trends in migration from origin and destination of human mobility (labor migration, child migration, people escaping violence, among others), determinants of such growth, and possible consequences. Moreover, an outlook on transnational economic engagement requires looking at growth, the extent of payment modernization, marketplace competition, and impact on growth and development.

Through 2022, we expect migration to continue in the face of anti-immigrant sentiments. Similarly, we expect remittances to continue to flow through an increasingly modernized payment system.

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