Remittance Trends in Canada

Of the immigrants who entered Canada during3. Demographics. The poorer their home country, the
2000-2001, 41 percent say they have sent money atbetter the chances are that they will send home
least once in their first your years, according tomoney home.
Canadian statistics. The average amount sent wasFor example, in the past 2-4 years, 60% of
$2,500 within the first two years and $2,900 withinimmigrants from Haiti and the Philippines sent
2-4 years.remittances home. Roughly half of the newcomers
This government data, the first to measure thefrom Jamaica, Romania, Nigeria, Guyana, and the
activity of remittances in Canada, comes just asUkraine sent money. However, less than 10% of
remittances are flourishing across the globe. Forimmigrants from industrialized countries - Frances,
countries such as Lesotho, Haiti, and JordanSouth Korea, and the United Kingdom sent money
remittances comprise almost one-third of the grosshome.
domestic product. Other countries include Jamaica,More than half of immigrants from Southeast Asia
the Philippines, and the Dominican Republic, accordingand the Caribbean and Guyana sent remittances
to the World Bank Figures.home two to four years after arriving, while about
This surge of money across the borders is as a40% of those from sub-Saharan Africa and Eastern
result of people leaving their home countries in searchEurope did so.
of work. Global remittances worldwide, has soared toImmigrants from East Asia sent, on average, sent
$369 billion last year - double the amount being spent$3,900 back home within 2-4 years of arriving, while
on foreign aid to developing countries.immigrants from the Caribbean and Guyana sent
How Many People Send Remittances$1,600.
According to Statscan, three factors determine theIt is surmised that immigrants from suffering
likelihood in which immigrants send money home toeconomic countries tend to send more money to
their countries:their home countries while family class immigrants and
1. Their income.refugees, tend not to.
2. Family obligations in Canada and abroad.