Good news for Mexico as remittances to the country was its level highest since October 2008. According to reports by Mexico's Central Bank, it reached $2.34 billion in May this year which is 7.8% increase from the previous May. The average amount per transaction, $329.21, was up in May by 3.7% from a year before.  Remittance experts said May is a particularly busy month for wire transfer operators, as many Mexicans living abroad send money for Mother's Day.



Among other indicators of the economy, money wired abroad by immigrants is also considered as one. The labor market is improving which had increased the chances of better employment prospects. Remittances to Mexico soared in the early 2000s as immigrants found abundant work during the U.S. housing boom. At the peak, 1 in 5 Latino immigrants in the U.S. was employed in the building trades, according to some estimates.

This tumbled down because of the housing bust and recession. It caused a lot of jobs to suffer and crackdown on illegal immigrants also played its role. New state laws targeted at undocumented residents in Alabama, Arizona and other states have forced some migrants to abandon their jobs. Others have changed their financial habits, holding on to cash in the event they're forced to relocate, experts said.

But this all seems to be story of the past. The new and emerging Mexico is definitely marching towards a better future.
When remittances increase, local Mexicans get more money in their hands to invest. Mexico real estate is one of the best investment options for a majority of Mexicans as this not only provides with them housing but also safeguards their investment.

With tourism going great guns, Playa del Carmen real estate market and other destinations are bucking the trend and posting growth each year.

While earlier real estate boom was supported by the expats and tourists, now Mexicans are fueling this growth which is great news for Mexico.