• Remittance model has performed well increasing the speed and safety in money transfers. It has advanced from hand to hand delivery, ordinary mail, money orders, to electronic transfers through bank accounts, use of debit cards, and Internet and cell phones transactions.
  • Between 1990 and 2010, the estimated number of international migrants in the world increased 1.4 times, but the flow of remittances in the world grew 6.4 times.
  • Among the factors that explain this situation are: technological developments in remittance markets, a decreasing trend in the cost of sending remittances, a greater participation by new companies in the money transfer market, reductions in remittances sent through informal channels and accounting improvements of remittances by central banks.
  • Worldwide, remittance costs have tended to decline. Between 2008 and 2011Q1 the total average global cost to sending US$200 decreased from 9.81% to 9%. South Asia and Latin America and the Caribbean have the lower costs in remittance transfers, 6.56% and 6.82%, respectively; while the highest costs by region are observed in Sub-Saharan Africa and East Asia and Pacific, 12.73% and 10.1%, respectively.
  • The cost of sending remittances to Mexico drops by more than 60% between 1999 and 2011. On the average, Mexico paid a cost 27% less than World average, 19% less than the rest of the EAGLEs, and 3.5% less than the average for Latin America and the Caribbean.
  • It is expected that, beyond the key factors that explain the migration, in the following years the remittance costs will continue their downward trend, because the supply of services will continue to increase, more companies are going to participate in the market, and technological developments will continue on their growing path.