Colombia, the United States and Spain are the countries that receive the most remittances from Latin America

The countries that receive the largest amount of remittances from Latin America, according to a report by the fintech Global66, are the United States, Colombia and Spain.

The study included the Chilean, Peruvian and Colombian markets, where “money transfers abroad increased 52.8%, compared to the same period in 2023.”

According to Tomás Bercovich, CEO of the company, the constant increase in the volume of money transferred “in personal remittances and business shipments through Global66 is just a reflection of our growing global interconnectedness and is also a testament to the confidence in digital financial solutions that offer security, speed and transparency.”

In the B2B (companies) segment, there was an increase that surprised fintech, since it reached 100% throughout the region, derived from payroll payment, payment to freelancers, and digital service platforms. In this case, the main destinations were the United States, Colombia, and Peru.

Rodrigo Lama, Chief Business Officer of Global66, spoke about this, noting that what companies are looking for is to expand their presence and strengthen their supply chains beyond their borders, “which is evident in the exponential growth of B2B traded volume compared to with the previous year.”

According to the report, those who send money abroad are mostly merchants, business administrators and students, “motivated by the transfer of their savings, family remittances and the purchase of real estate.”

M.Pino

Source: diarioestrategia

(Reference image source: Blogging Guide in Unsplash)

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