A new study released by the International Organization for Migration finds a great number of Europeans are resettling in Latin America and the Caribbean.

The study, which explores the European Union's migratory flux in and between Latin America and the Caribbean (LAC), says since 2010 more people emigrated from the EU to LAC than the other way around. Spain stands as the EU country that sends the greatest number of migrants to LAC. Spain is followed by Italy, Portugal, France and Germany.

Laura Thompson, deputy director general of the IOM, explains, "Over the past few years, changes in migration flows between LAC and EU countries show, once again, how the flows naturally adapt to the fluctuating socioeconomic realities and their potential as an adjustment tool and a response to economic and structural crisis."

Countries like Venezuela, Brazil and Mexico have long been the go to nations for relocating Europeans, but the study shows Chile is becoming an increasingly popular place too.

According to Gastón González Parra, a Chilean expert in immigration policy, around 70,000 Europeans are now living in the country. "Chilean companies often look to Europe to find a specific area of expertise," Parra told Deutsche Welle. "Romanians and Bulgarians are being hired to work up north in the Atacama Desert in the green energy industry installing solar panels."

According to findings provided by the Fundacion Alternativas around 700,000 Spaniards left Spain between 2008 and 2012. A young transplant named Angel Lopez, who moved to Peru to pursue job opportunities Spain could not offer him, spoke to the BBC about his fellow countrymen coming onboard to make a living in Peru: “If a few years ago we numbered in the hundreds, now there are thousands like me, and there are many Spanish companies bringing their business to Peru every day.”