June 8, 2011 § Leave a comment
From The Catalyst:
Latin America is not currently a middle class place; the average size of the middle class for the Latin American region is 36.%, data from 2005. But Mexico, along with only three other Latin American economies has a large middle class. According to Cárdenas, Kharas and Henao from Brookings Institution, Mexico is and will be even more, a middle class country.
“The implications of this description for investment and policy decisions are important. A buoyant middle class represents not only a link between it and the economic effects of consumption and growth. Middle class also focus its importance on values typically associated with this socioeconomic group, such as democratic attitudes, entrepreneurship, hard work and the importance of education. According to the Brookings study, these values, it is often argued, are crucial for the development process.”
For more an even more in depth view of this conversation that has been going on for years now, visit http://www.businessweek.com/magazine/content/06_11/b3975071.htm.
June 1, 2011 § Leave a comment
With approximately 11 million Mexicans living and working in the United States, it’s no surprise that Mexico is the top receptor of remittances of any Latin American country per year. Since April of 2010, Mexico has received an estimated 1.87 billion dollars in remittances.
According to data shown by the Mexican central bank today, remittances to Mexico increased by 4.66% in April, bringing the total to seven consecutive months of growth supported by the stabilization of the U.S. economy.
The majority of remittances entering Mexico are sent from the United States and are one of the country’s main sources of income, along with oil exports and direct foreign investment.