While COVID-19 battered economies worldwide 🌍, Mexico witnessed an unexpected lifeline: remittances surged to record levels in 2020. 💸 Despite job losses and lockdowns, money sent home by migrants abroad jumped by over 10% compared to pre-pandemic levels – a trend defying early predictions of collapse.
Why It Matters
Remittances are Mexico’s largest source of foreign income, bigger than oil exports or tourism. For families, this cash flow became a critical safety net 🛡️ as local jobs vanished. Analysts call it a 'diaspora paradox' – migrants worked extra hours in essential sectors abroad (like U.S. agriculture and healthcare) to support loved ones back home.
The Bigger Picture
The spike highlights globalization’s uneven impact. While tech giants thrived, migrant workers – often unsung heroes 💪 – kept economies afloat across borders. Mexico’s case shows how interconnected our world remains, even in crisis.
