Remittances sent by Baja Californians living abroad increases 3.3 percent during the first quarter of 2022 compared to last year’s same period.
La Crónica newspaper reported that the increase has constantly increased in the last years, turning the state twelfth nationwide.
Roberto Valero, Chairman of the Center of Economic Studies of Baja California, told the newspaper the state was 24th. years ago in the amount of remittances in Mexico.
However, the number of Baja Californians living in other countries (especially in the US) and those working in states like Arizona and California has also increased.
As of today, remittances and money spent by permanent residents and citizens working in the US represent 12 percent of the State’s Gross Domestic Product.
During the first quarter of the year Baja Californians living abroad sent $684 million to their families.
Mexicali families received $142 million of those remittances — an increase of 3.6 percent. While Ensenada observed a 13.9 percent decline, Tecate recorded a 7.5 percent increase, Valero said.
Tijuana — the city that has reported the largest remittance amount— received $365 million, or an increase of 2.9 percent.
The economist told the newspaper remittances have become one of the main support of the State’s economy. Last year, Baja Californians living abroad sent close to $1.4 billion — a figure above foreign investment and Mexican funds allocation.