Return Migration and Real Estate Projects: Philanthropy or Speculation? The Examples of Le Locle and Locarno (Switzerland), From the Mid-19th Century to the 1910s

Historical return migration often drove financial flows, such as remittances or capital repatriation, primarily funneling into private construction to symbolize personal success and fulfill conservative ideals. This study reveals that for two Swiss migrants—one in Le Locle and the other in Locarno—real estate development from the mid-19th century to the 1910s served as a strategic entrepreneurial venture balancing philanthropic goals with speculative motives. By analyzing these case studies, researchers demonstrate how migration-driven wealth was not merely altruistic but also a calculated investment, challenging traditional narratives of return migration's motivations.

Lorenzetti, L., & Rossinelli, F. (2025). Return Migration and Real Estate Projects: Philanthropy or Speculation? The Examples of Le Locle and Locarno (Switzerland), From the Mid-19th Century to the 1910s. Two Homelands, (62). https://doi.org/10.3986/2025.2.5