Some have even noted that Chupacabras sightings have migrated north along the same path as South American killer bee swarms. There are a number of factors present in the Hispanic culture from which the Chupa was spawned, both historical and of recent vintage, that could explain how this particular legend came into being. There have been stories of bloodsucking creatures in Latin America for centuries, long predating the European image of vampires. Encounters with these creatures could have inspired vampire deities and tales of man-sized beasts that feed on the blood of their victims.
Some anthropologists see a socioeconomic element to the bloodsuckermythology.
They believe the bloodsucking creature symbolizes the anxieties of underdeveloped societies who feel exploited by wealthier nations. Like an unwelcome colonial intruder, the Chupacabras sucks out what precious little life there is in the local resources, and leaves nothing in return. The bloodsucker is often equated with the perceived evils of capitalism. Analysts acknowledge that this folklore has been a part of these cultures long before their modern economic hardships, but still believe that one reinforces the other. In an explicit illustration of this theory, there are Mexicans who feel that El Chupacabras is part of a sinister conspiracy perpetrated on their nation from without.