Loading...
Market
Most Used Financial Mechanism for Remittances to Latin America 2024
5
Resolution / Starting Odds
Bank Transfers • 25%
Mobile Payments • 25%
Cryptocurrency • 25%
Money Transfer Services • 25%
Reports from international money transfer services and financial technology companies
Story
2024: Latin America Receives $156 Billion in Remittances, Surpassing World Bank and IMF Loans
May 8, 2024, 04:49 AM
In 2024, remittances to Latin America and the Caribbean surged to approximately $156 billion, a significant increase from previous years. This amount surpasses the annual lending of the World Bank to developing countries and exceeds all the outstanding loans the International Monetary Fund (IMF) has with almost 100 countries. JPSpinetto described this financial influx as a potential catalyst for regional integration and a means to incorporate low-income workers into the formal economy, emphasizing its life-changing impact. The rise in remittances is part of a broader trend where global remittances have dramatically increased, with figures reaching $831 billion in 2022 from $128 billion in 2000.
View original story
Similar markets
Banking • 25%
Real Estate • 25%
Fintech Startups • 25%
Other • 25%
Solana • 35%
Ethereum • 35%
Bitcoin • 15%
Other • 15%
Friends and Family transfers • 25%
Small Business payments • 25%
Marketplace transactions • 25%
Charity donations • 25%
Below 20% • 25%
20% to 30% • 25%
30% to 40% • 25%
Above 40% • 25%
North America • 25%
Europe • 25%
Asia • 25%
Rest of the World • 25%
Scalability • 25%
Security • 25%
Transaction Speed • 25%
User Experience • 25%
North America • 25%
Europe • 25%
Asia • 25%
Rest of the World • 25%
Credit/Debit Card • 25%
Net Banking • 25%
UPI • 25%
Wallets • 25%
Argentina • 20%
Brazil • 20%
Chile • 20%
France • 20%
Guatemala • 20%
Below 10% • 25%
10% - 20% • 25%
20% - 30% • 25%
Above 30% • 25%
Remittances • 25%
DeFi lending • 25%
Retail payments • 25%
Institutional trading • 25%