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Less than half of the Romanians working abroad plan to return to their native country, a recent study shows.
Only 40 per cent of Romanian immigrants are interested in moving back home in the near future, despite the increasing difficulties they face in finding stable employment abroad, a recent study shows.
The report, developed by Soros Foundation Romania and released on Friday, also shows that the estimated savings set aside by Romanians working abroad amounted to some 12 billion euro between September 2009 and 2010, out of which only 3 billion was sent back home.
“This is a clear sign that Romanian immigrants plan to settle in their host countries. Most of them no longer wish to build a new house in Romania or to get a pension from the Romanian state, as was the situation few years ago,” says sociologist Dumitru Sandu.
Cash returned by Romanian migrants is mostly spent on buying food and paying health care and education bills for family members back home. The annual remittances per household from September 2009-2010 amounted to 2,157 euro, while the annual savings per household abroad reached 9,015 euro, according to the study.
Money sent back to Romania by nationals working abroad has played a key role in keeping the country economically stable amid the current financial crisis.
In 2010, the money sent home by Romanians was almost double the amount injected into the economy through foreign direct investment, FDI, which stood at only €2.27 billion, according to official data.
Bucharest ranks first in the European Union in terms of the share of immigrants' remittances in the country's GDP.
Almost three million Romanians are estimated to be working abroad, mainly in Italy and Spain. Many moved after Romania joined the European Union in 2007, taking modestly paid jobs.
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