Educating Future U.S. Immigrants Cost Mexico $81 billion
Between the years of 1994 and 2008, Mexico spent $81 billion educating the part of its population that immigrated to the United States, said a BBVA Bancomer report released Monday.
Twenty percent of the Mexican population with doctoral-level studies, lives in the United States according to the report. The report also noted that the current economy of México is unable to offer positions to the vast number of people entering the workforce every year, even those who are highly qualified. As a matter of fact, BBVA Bancomer indicated that the worst rates of unemployment in Mexico occur among the most educated people, who are three times as likely to find themselves unemployed, as opposed to individuals that only went to elementary school, or have no education at all.
The bank concluded that Mexico needs comprehensive reform to make the labor situation more flexible, to give incentives for training, to generate greater public and private investment and to increase competitiveness, among other things. The reasons why Mexicans continue leaving for the United States have to do more with the opportunities offered to them there than with the lack of those same jobs in Mexico.
BBVA Bancomer predicts that the amount of liquid assets Mexico receives from its immigrants in the United States will be slow, and that it could be at least three years before Mexico sees any notable profits from its multi-billion education investment.