JIS News

Story Highlights

  • The Bank of Jamaica (BOJ) is conducting a survey to get a deeper understanding of the diaspora’s involvement in the Jamaican economy.
  • The survey, which will be used to inform policy decisions, will cover a broad range of topics, such as remittances, the potential sectors for investments and the types of investments that are of interest to the diaspora community.
  • A ‘pulse’ survey was administered at the Eighth Biennial Jamaica Diaspora Conference, held recently at the Jamaica Conference Centre in downtown Kingston. The BOJ was one of several government entities at the ‘Government at Your Service’ pavilion at the event.

The Bank of Jamaica (BOJ) is conducting a survey to get a deeper understanding of the diaspora’s involvement in the Jamaican economy.

The survey, which will be used to inform policy decisions, will cover a broad range of topics, such as remittances, the potential sectors for investments and the types of investments that are of interest to the diaspora community.

A ‘pulse’ survey was administered at the Eighth Biennial Jamaica Diaspora Conference, held recently at the Jamaica Conference Centre in downtown Kingston. The BOJ was one of several government entities at the ‘Government at Your Service’ pavilion at the event.

Deputy Governor of the BOJ, Dr. Wayne Robinson, told JIS News that the conference provided an opportunity to engage members of the diaspora.

“The responses we got are very encouraging. We have exceeded our expectations in terms of the number of responses. That is very encouraging,” he said, adding that the data collected will be analysed in order to refine the questions to be administered.

Dr. Robinson revealed that a previous survey done by the BOJ had focused on the recipients of remittances.

“We thought it was important to use this occasion to engage with the senders, that is, members of the diaspora,” he said.

He noted that the study will garner information through different sources, such as remittance businesses. Contact will also be made with the diaspora through various associations, especially in the United States, Canada and the United Kingdom.

Dr. Robinson said the compilation and analysis of the data should be completed by the latter part of this year.

“We hope to conclude the process, probably sometime in the last quarter of this year,” he added.

“The research findings will enable us to provide advice on policies that can help Jamaica to achieve its objectives, economic growth and employment, which would benefit not just Jamaicans living here but Jamaicans who are living abroad as well,” he continued.

Dr. Robinson, who is in charge of Economic Policy and Research, said that the diaspora community is very important to the Jamaican economy. He noted that the annual remittances in Jamaica are running at about US$2.2 billion.

“That is roughly about 16 1/2 per cent of the gross domestic product, so it is very significant,” he added.

Jamaicans living abroad can contact the BOJ at 876-922-0750 or via its Facebook Page @CentralBankJA or email: info@boj.org.jm for further details.