The Caribbean is about to see remittances jump by 9.2% this year, with total flows hitting around $20.9 billion, according to a fresh report from the Inter-American Development Bank. The Dominican Republic is absolutely crushing it with $11.9 billion expected, which is more than half the whole region's haul. Haiti comes second at $4.9 billion, and most of that cash originates from the United States and Canada.
The US sends over half of all Caribbean remittances at 50.4%, while Canada chips in another 10.6%. Remittances as a share of GDP across the region are climbing from 9.2% to 10%, mostly because Dominican Republic numbers are spiking hard.
Haiti is the weird outlier, though, with its remittance-to-GDP ratio actually dropping by 3.6%. The Dominican Republic is basically carrying the entire region right behind it.
The US sends over half of all Caribbean remittances at 50.4%, while Canada chips in another 10.6%. Remittances as a share of GDP across the region are climbing from 9.2% to 10%, mostly because Dominican Republic numbers are spiking hard.
Haiti is the weird outlier, though, with its remittance-to-GDP ratio actually dropping by 3.6%. The Dominican Republic is basically carrying the entire region right behind it.
