The Government of El Salvador has managed US$66.8 million in investments from the salvadoran diaspora since 2022, transforming consumption remittances into investment remittances. This figure was presented by the Vice Minister of Diaspora and Human Mobility, Cindy Mariella Portal, during the V Plenary Meeting between the Conferencia Regional sobre Migración (RCM) and the Conferencia Suramericana sobre Migraciones (CSM).
Portal stressed that these investments strengthen sectors such as tourism, real estate and financial technology, which is driving the development of El Salvador.
During her speech, the deputy minister highlighted that between 2018 and 2023, 30.3% of salvadoran households have received remittances on a regular basis, according to a survey conducted by the International Organization for Migration (IOM). The average amount of these remittances is US$150 per month, being mostly destined to food, basic services and health. However, the government is promoting the use of these resources for productive investments.
According to official data, remittances to El Salvador have shown steady growth between 2018 and 2023, and this trend is expected to continue through 2024. This increase in the flow of remittances has been key to strengthening the family economy, but the government is focused on expanding their impact by turning them into a source of investment.
El Salvador has taken a step forward in migration governance, being the first country in the region to implement a National Global Compact Plan on Migration. Through this plan, the country seeks to ensure that migration is safe, orderly and regular, promoting temporary labor opportunities abroad. Since 2021, more than 14,000 salvadorans have benefited from these opportunities, generating US$14.6 million in remittances, a figure that has begun to transform into investments.
Vice Minister Portal highlighted that one of the most significant achievements of the Labor Mobility Program has been that 39% of the remittances sent by temporary workers have been destined to investments in businesses and real estate. This new trend in the use of remittances is changing the country’s economic outlook.
A. M. 
