by Rod Hughes

The International Development Bank estimates that 300,000 Costa Ricans annually receive $600,000,000 from relatives working abroad. The IDB figures on an average, Ticos receiving money from this source get eight payments per year, totaling some $2,000.

Although this does not seem like much in dollar terms, that works out to be a bit more than a million colones. During the past three years,that is actually nearly double what foreigners living in Costa Rica sent out to their families back home. And if IDB projections hold true, this year’s incoming amount will be double what it was in 2004.

But lest you think that Costa Rica is exporting a massive labor force to other countries, IDB says that six hundred million dollars is barely 5% of what other countries in the region are receiving from their expatriate workers. Granted, 71% of the money comes from the U.S., 13% comes from Europe, 12% from other Latin American countries and 3% from Canada.

And lest one think that the beneficiaries of this foreign money are living high on the hog, IDB says those residents here use 81% of it for bare necessities, food, clothing and electricity.