EconomyThe cost of migrating: Number of dead migrants in...

The cost of migrating: Number of dead migrants in Mexico increases 70.4% in 2021

Last year, the “American dream” of more than 700 Mexicans turned into a nightmare. The number of Mexican deaths increased by 70.4% compared to 2020.

The 2021 death toll was an all-time high. More than half of the dead Mexicans are men between 18 and 45 years old who came from Guanajuato, Michoacán and Oaxaca, mainly, according to the 2022 Remittances Yearbook made by BBVA Mexico and the National Population Council (Conapo).

Mexicans continue to use the “coyotes” to cross into the United States, and the cost starts at $9,600 (more than 196,000 Mexican pesos).

Mexico is the second recipient of remittances worldwide.

The money sent by compatriots from abroad, mainly the United States, registered a record amount of 5,297 million dollars in July. It is estimated that this year remittances will close the year at levels of 58.5 billion dollars and in 2023 they will reach 62.6 billion dollars.

Last year, Mexico received 51.6 billion dollars while the first place in receiving remittances is India with 89.4 billion dollars.

Michoacán, Guerrero and Oaxaca are the states that most depend on remittances.

The volume of Mexican migrants in the United States went from 11.5 to 11.9 million inhabitants between 2020 and 2021 and the sectors in which they are employed are construction, hotels, manufacturing and professional services.

Mexico has 21,334 million pesos in abandoned bank accounts

The CNBV reported that Banamex, BBVA and Banorte are the three financial institutions with the highest amount of accounts abandoned by banking users; represents 0.3% of traditional deposits.

BBVA launches new investment fund from 50 pesos

The BBVADIG investment fund will be in assets of the digital economy such as crypto companies, NFT, metaverse, among others.

Remittances increased in August… but their growth is slowing down

The average amount of the remittance sent in August was 390 dollars, an amount below the 406 dollars averaged during July.

It's a fortnight and the BBVA app is intermittent

Bank users cannot carry out operations through their app due to intermittence; the bank says it is solving the problem.

Ualá clients will be able to receive up to 900 dollars in remittances

The firm forms an alliance with MoneyGram so that its clients can receive remittances from abroad in the app.

More