Guatemala: Decrease of growth of remittances and tourism
Income earnings from remittances and tourism grew less than 5% in 2008.
Friday, December 12, 2008
Last year the growth was 14% for remittances and 16.8% for tourism, according to data from the Bank of Guatemala (Banguat).
After 16 months of continuous growth, remittances in July were down 9% compared to the same period in 2010.
In the first half of the year, $1.7 billion were sent to the country by Salvadorans abroad, 10.3% less than the same period of 2008.
Fourth quarter of 2008 registers first decline in nearly a decade. Flows of money sent home by migrants hit by economic slowdown, exchange rate swings
Only $361 million were received in October compared to $371 million last year, according to the Guatemalan Bank (Banquat).
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