Ecuadorians living abroad are sending more money back home

According to the Corporation of Development Studies (Cordes), during the third trimester of 2017, remittances sent home by Ecuadorians living abroad increased 13 percent compared to the same period in 2016. The countries of origin for the largest remittances were the United States, $415 million; Spain, $212 million; Italy, $39 million; and Mexico, $21 million. These four countries generate 92% of the total of remittances received in Ecuador. For Rodrigo Mendieta, the Economic Sciences Faculty Dean at the University of Cuenca, the growth of remittances is partly explained by the holiday season. He adds that it also reflects improved economies…

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