News

This Caribbean Country Received $4.5 Billion in Remittances

By: Caribbean Journal Staff - May 14, 2015 - 9:44 am

Above: Santo Domingo (CJ Photo)

By the Caribbean Journal staff

Remittances to Latin America and the Caribbean set a record last year, with the Caribbean led by the Dominican Republic, according to a new report from the Inter-American Development Bank.

Total remittances topped a previous high set in 2008.

The Dominican Republic led the way with a total of $4.5 billion in remittances, according to the data from the IDB’s Multilateral Investment Fund.

Haiti was second in the Caribbean region with 1.923 billion, followed by Jamaica at $2.16 billion.

“Remittances remain an important source of income for millions of families in Latin America and the Caribbean,” said Fernando Jimenez-Ontiveros, Acting General Manager of the MIF. “The remittance sector has evolved by adopting new technologies and options for sending and receiving, and has seen a decline in fees. However, it is essential to continue working so that those who receive them have opportunities for savings and investment.”

See the full table below.

remittances

Popular Posts antigua long bay

25 Perfect Caribbean Beaches to Add to Your Summer Bucket List

There’s nothing like a Caribbean beach in summer. The crowds thin out, the winds relax, and the islands start breathing in a different way. The beaches you thought you knew feel new again— stretches of sand once packed with winter […]

The 15 Best Hotels in Trinidad and Tobago, From Hidden Eco-Retreats to Luxury Towers

 trinidad and tobago hotels where to stay

From Port of Spain to Tobago’s quiet coasts, these are the places to check in now No two Caribbean islands are quite like Trinidad and Tobago—and no two hotels here feel the same. This is a destination of contrast: Carnival […]

This Marriott All-Inclusive Resort Is Coming to Barbados —  And You Can Book It With Points

 new brand for the caribbean

Barbados has long been a haven for adults in search of refinement — the kind of place where luxury and culture blend in quiet, confident harmony. Now, that ethos is becoming the foundation of a new resort concept that aims […]

Related Posts rainforest resorts

The Dreamiest Rainforest Resorts in the Caribbean, From Dominica to Belize

The Caribbean is often imagined as a string of sun-drenched beaches — white sand, turquoise water, and endless horizon. And while that version of the Caribbean is very real, it’s only part of the story. Move beyond the shoreline, and […]

Delta Is Adding a New Caribbean Island With Waterfalls, Beach-Hopping and Luxury Hideaways

 bequia delta caribbean island st vincent

Delta is launching new nonstop service from Atlanta to the island of Saint Vincent, opening up a fresh, seamless connection between the United States and one of the Caribbean’s most untouched destinations. The new flight, which begins in late December, […]

This Beach Town Is a Laid-Back Getaway With a Famous Rock, Wild Waves, and French Caribbean Charm

 beach town in martinique caribbean

Le Diamant is alive. It starts before you arrive — a winding drive through banana trees and old Creole homes, the Caribbean Sea shimmering just beyond the hills. Then it hits you: that moment when the town opens up and […]