Venezuelan migrants are making significant economic contributions in Ecuador, where approximately 441,000 reside. Households headed by Venezuelans contribute nearly $47 million in taxes annually, bolstering public revenues. Supportive policies—such as simplified documentation, expanded access to formal employment, social security, financial services, and recognition of academic credentials—have enabled integration and enhanced productivity.
Despite these advancements, structural barriers persist. Over 70 percent of Venezuelan migrants are between the ages of 18 and 39, yet about two-thirds are employed in the informal sector. Only 30 percent work in roles aligned with their professional training. Women face disproportionate challenges: nearly 70 percent work informally and often earn less than the minimum wage.
The broader context of global migration highlights the economic significance of remittances. According to the International Organization for Migration’s 2024 World Migration Report, remittance flows have surged from $128 billion in 2000 to $831 billion in 2022. High-income nations are the primary sources, with the United States leading at $79 billion sent abroad in 2022. Other major contributors include Saudi Arabia ($39.4 billion), Switzerland ($31.9 billion), and Germany ($25.6 billion).
India, Mexico, China, the Philippines, and Egypt ranked as the top recipients, in descending order. India stood out with inflows exceeding $111 billion, becoming the first country to surpass the $100 billion threshold in remittances.
Kristina Mejo, head of the migration agency in Ecuador, emphasized that when migrants are granted rights and opportunities, their positive impact on host societies becomes evident. However, sustained policy efforts are needed to address labor market inequities and ensure inclusive growth.
— news from UN News
— News Original —
Venezuelan migrants drive economic gains in Ecuador but face persistent vulnerabilities
“The evidence is clear: when migrants have access to rights and opportunities, they contribute substantially to the societies that host them,” said Kristina Mejo, the head of the agency in Ecuador. n nVenezuelans currently number around 441,000 in Ecuador, with households paying nearly $47 million in taxes annually. n nTheir contributions have been enabled by public policies that streamlined documentation processes, expanded access to formal jobs, social security and financial services and recognised academic degrees. n nThese steps have boosted productivity while helping integrate migrants into the system. n nBarriers and inequities n nHowever, despite these gains, significant challenges remain. n nMost Venezuelans are young – over 70 per cent are between 18 and 39 – yet around two-thirds work in the informal sector. Only 30 per cent are employed in their field of expertise. n nWomen, in particular face even steeper hurdles: nearly 70 per cent work informally and many earn below the minimum wage. n nMigration and remittances worldwide n nThe study comes as global remittances – money sent home by migrant workers – continue to rise. n nIOM’s 2024 World Migration Report shows transfers increasing from $128 billion in 2000 to $831 billion in 2022, underscoring migration’s growing economic weight. n nHigh-income countries, led by the United States, are the primary sources. In 2022, the US alone sent $79 billion abroad, supporting families and strengthening global financial ties. n nSimilarly, migrants in Saudi Arabia sent home $39.4 billion, followed by those in Switzerland ($31.9 billion) and Germany ($25.6 billion). n nIndia, Mexico, China, the Philippines and Egypt were (in descending order) the top five remittance recipient countries, with India well above the rest. n nInward remittances in India exceeded $111 billion, the first country to reach and even exceed $100 billion.