Victor Mendez Capellan, president of Remesadora Vimenca (Western Union representative in the DR) forecasts that remittances to the DR will be up 25-30% this year in comparison to last year. He said money sent home to people in the DR in May was up 30%. He believes the DR receives more than US$2,000 million a year in remittances. In his opinion, remittances will continue high as young Dominicans continue to migrate to Europe, Latin America and the US. He says the slow down of the US economy has not affected the level of remittances. “You should know that Dominicans are now living in Europe, Brazil, Argentina and Venezuela and many other countries where there is lots of money,” he said.
