Confirmed: The rate at which remittances sent to Jamaica has remained steady over the last 10 years but more people are dependent for their household activities on monies sent by their relatives overseas. According to the Business and Consume Indices, those receiving remittances are spread across age groups and even across socio-economic levels. Roughly one Jamaican in every three receive remittances on a regular bases. Managing Director of Market Research Service Ltd, Don Anderson says the rate of remittances has not increased or decreased significantly since 2004 when monitoring started. He adds that coming out of a study done on remittances in Jamaica and Latin America the highest number of persons in Jamaica recorded as receiving remittances has been 37% This spreads across socio-economic platform. He adds that over the years the statistics has not changed. The 18 - 25 age group are the largest group to receive remittances while there has been an increase in the 45 -54 age group to 39% or nearly 4 of 10 in this age group. This suggests that there is a spread of persons receiving remittances across all age groups. 36% or one in every three Jamaicans says they only receive remittances when needed as opposed to a regular pattern. It was also noted that the amount of money received in remittances per person has increased since 2009. 38% say that have received larger amounts in remittances in the last quarter. Mr Anderson says this indicates that persons are becoming more dependent on remittances to conduct their day to day businesses. He also says that since 2011 the use of remittances has lowered but is mostly used for household expenses. Mr Anderson was updating the public the public on the Business and Consumer Indices for the second quarter of 2014 yesterday in Kingston.
Posted on: Wed, 16 Jul 2014 15:17:24 +0000
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