Ecuadorian Immigrants In Spain And Their Contribution To The Ecuadorian Economy By Sending Remittances: New Perspectives To The Economic Crisis

Abstract

This study deals with the importance that money and funds
that emigrants send from their countries of residence have
acquired in their country of origin, Ecuador. In the Latin-American
context, the countries that have been receiving more
money in the last decade from their emigrants are Mexico,
Brasil and Colombia. Nevertheless, in Ecuador, these remittances
have become the second source of income after the benefits
obtained by the petroleum exports. The remittances in
Ecuador represented a higher percentage with respect to the
GDP than in the countries before mentioned. Thus, the increase
of the total of these transfers to the Andean country had an
impact not only on the national economic growth, but also on
the improvement of the spending power of the emigrants’ families.
The quantitative increase of the money flows between
1994-2007 contrasts a second stage between 2008-2012, characterized
by the deceleration of the economic growth, especially
in the United States and Spain, most preferred destinations
of Ecuadorian migrants.

Keywords: economic growth, remittances, emigration, Productive
investment.