Remittance inflows reach historic highs in Mexico and Guatemala

Remittance inflows in Mexico and Guatemala have reached significant levels, though growth patterns vary across the region.

In Mexico, family remittances reached a historic high of $421.55 billion between December 1, 2018, and August 31, 2026. This volume supported approximately 39.37 million dependents and over 11.93 million households. Mexico currently ranks second globally in remittance reception. Notably, the U.S. Senate authorized a 1.0 percent tax on certain cash-based remittances effective January 1, 2026, though electronic transfers via specific banking tools remain exempt.

Guatemala reported that remittances reached $20.01 billion through September, representing a 5.5% year-on-year increase. The Bank of Guatemala (Banguat) expects monthly inflows to approach $2.5 billion during the final quarter of the year. However, analysts from the Centro de Estudios Monetarios Latinoamericanos (Cemla) note a deceleration in growth momentum across Latin America and the Caribbean, with Guatemala among the countries expected to see moderated growth rates in 2026 and 2027.