Compared to ongoing debates on the macroeconomic effects of migrant remittances, little disagreement exists about their positive contribution to the well-being of many receiving households. For example, Peruvian households that receive remittances from abroad have been shown to enjoy better access to basic services, housing and education (OIM & INEI 2008). Although making up less than 2 per cent of the country's Gross Domestic Product (Pew Research Center 2013), the total amount of money transferred from Peruvian migrants increased remarkably during the past 10 years. Between 2003 and 2012, the amount of remittances tripled from $869 million to around $2.8 billion (World Bank 2012). Spain was the second most important source of this money in 2012 (after the United States), with a total of $472 million in remittances, reflecting the massive Peruvian migration to the country in the past two decades. Though the largest share of this money was transferred by migrants who were in their prime working and reproductive years, the rapid increase in the number of Peruvians aged 50 years and above suggests that older Peruvian migrants may become an increasingly important source of transnational financial support.

Therefore, the aim of this chapter is to explore the remitting behaviour of this heterogeneous demographic group by addressing the following research questions: First, to what extent do older Peruvian migrants in Spain engage in this transnational activity? Second, how do local and transnational microlevel factors impact their remitting behaviour? To answer these questions, the chapter analyses a subsample (N=366) of Peruvian migrants aged 50 years and older derived from the Primera Encuesta Mundial a la Comunidad Peruana en el Exterior (Worldwide Survey on the Peruvian Community Abroad, WSPCA, own translation) from 2012. Drawing on Carling and Hoelscher's (2013) conceptual framework of capacity and desire, a statistical model is developed using binary regression analysis. To add complexity, the results are discussed in light of qualitative data stemming from semi-structured interviews held with older Peruvian migrants in the metropolitan area of Barcelona in 2012. These data were subjected to theory-driven content analysis according to Baldassar and colleagues’ (2007) approach to transnational family caregiving. Finally, the statistical model is applied to Peruvian migrants aged between 18 and 49 years to see whether there are age-specific differences.