The border crisis under President Joe Biden has fueled Mexico’s economy through an increase in Mexican migrants in the U.S. sending money back home, according to multiple reports.
Remittances, the money sent by Mexicans working abroad sent back home, increased from $33.5 billion in 2018 to $60 billion in 2023 after a record number of migrants crossed the southern border, according to The Associated Press. From 2018 to 2022, Mexico’s poverty rate declined from 49.9% of the population to 43.5%, declining by 5.7 million, according to a study conducted by Coneval, an autonomous organization coordinated by the Secretariat of Welfare in Mexico.
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