4 billion euros sent abroad from Sicily by immigrants in 19 years #finsubito prestito immediato – richiedi informazioni –

 Foreign workers in Sicily sent over four billion euros abroad since 2005. With remittances rising yearly, Siracusa leads the trend, fueling debates on economic impacts and Italy’s need for migrant labor.

Last week, Assoesercenti (Italy’s National Association of Merchants) Research Center examined the remittance data of foreign workers in Sicily, revealing that over four billion euros were sent abroad from 2005 to 2023, with remittances steadily increasing each year.

The analysis, based on data from the Bank of Italy, tracked the funds that foreign residents in Sicily send to support family members in their home countries. Results show a 126 percent increase in total remittance value since 2005, more than doubling over the past 19 years.

Assoesercenti Sicilia President Salvo Politino highlighted the increasing need for foreign labor due to Italy’s aging population. Sicily has recorded a net population loss of nearly 100,000 from 2019 to 2023, with mortality rates rising by 2.67 percent and birth rates declining by 8 percent.

In 2023, Siracusa led Sicily’s provinces with a 251 percent increase in remittances since 2005, followed by Palermo (246.52 percent), Trapani (149.87 percent), Ragusa (148.03 percent), and Agrigento (117.56 percent).

Romania received the highest amount at 992 million euros, or 22.51 percent of total remittances, followed by China (555 million euros, 12.61 percent), Bangladesh (472 million euros, 10.11 percent), Sri Lanka (296 million euros, 6.72 percent), and Morocco (200 million euros, 4.55 percent). The peak years for remittances were 2011 and 2012.

Politino emphasized that while remittances play a crucial role in developing nations, their impact on poverty reduction has received limited attention. He also noted that, although remittances reduce funds in the Italian economy, they may alleviate European budgets by decreasing the need for humanitarian aid.