Spain

In five years Spain has moved from being the sixth-largest receiver of funds sent by Spaniards working abroad to their relatives in Spain to becoming the second-largest sender after the US in terms of the remittance of funds sent by immigrants livings in Spain to their relatives abroad. While in the past some 3 million Spaniards living abroad sent money to Spain, the arrival of 4.5 immigrants to Spain has turned the country into a net sender of funds, bad news for the cash flow deficit which stands at nearly 10 per cent of GDP. (Expansion)