Migration

Remittances accumulate four consecutive months of growth: February (+1.1%), March (+6.0%), April (+3.7%) and the most recent data for May (+3.8%). In the first five months of 2026, remittances totaled 25,287 million dollars, which represents an increase of 2.8% compared to the same period of 2025.

Immigration has played a significant role in the recent improvement of GDP per capita in Spain, driven by increases in both employment and productivity. The key question moving forward is whether the Spanish economy will be able to better leverage the human capital it is taking in.

The Banco de México updated the remittance data received by the country in 2024-2026. The largest adjustment was made for 2025, with an increase of USD 695 million. The correlation coefficients of remittances to Mexico were analyzed in relation to 6 major remittance-receiving countries in Latin America and the Caribbean.

Educational inequalities in Mexico are examined through an analysis of educational lag between 2004 and 2024 and the estimation of a probit model using data from the 2024 ENIGH survey to quantify their main determinants based on individual, household, and contextual characteristics.

Michoacan and Guanajuato remain tied as the main recipient states, with USD 1,249 million each in Q1 2026. The main U.S. states of residence of Mexican migrants increased their remittance outflows: California (+6.2%) and Texas (+2.0%).

Labor participation has rebounded since 2020, driven by cyclical factors, immigration, and higher educational levels. However, this improvement is temporary and masks the structural trend resulting from population aging.

Europe’s post-pandemic economic recovery has relied significantly on immigration. Simple growth accounting exercises suggest that immigrants may have contributed around half of recent GDP growth. As the native workforce declines, immigration is becoming increasingly important to sustain economic activity.