Prime Minister Highlights Phenomenal Growth of Remittances

Prime Minister, Portia Simpson Miller has described as phenomenal, the growth in remittances from the Jamaican Diaspora over the last 15 years.Matched against the top two income generating sectors of the Jamaican economy, Tourism and Bauxite and Alumina, Prime Minister Simpson Miller said that remittances were at the top of the list.
“The growth in remittances from the Jamaican Diaspora in the USA, Canada and the United Kingdom has been truly phenomenal. There has been a notable increase from US$164.2 million in l990 to US$1.87 billion last year. Remittances now surpass the gross earnings from Tourism and Bauxite and Alumina,” she pointed out.
Last year, Jamaica earned a reported US$1.55 billion from tourism and another US$1 billion from bauxite and alumina.
The Prime Minister, who was delivering the keynote address at the 25th anniversary gala benefit of the American Friends of Jamaica (AFJ) in lower Manhattan on October 19, told the audience that remittances from the Jamaican Diaspora in the USA alone totalled just under US$1 billion.
Mrs. Simpson Miller said that in recognizing the tremendous importance of the Jamaican Diaspora to Jamaica’s national development agenda, the government is working through the Ministry of Foreign Affairs and Foreign Trade, “to explore innovative mechanisms to develop a more structured and organized approach to deepening the effectiveness of such contributions”.
Underscoring the importance and worth of the Jamaican Diaspora, the Prime Minister said that despite the steady decline in Overseas Development Assistance (ODA), Jamaica is now ranked alongside the middle income countries due to its improved Human Development Index (HDI).
“Jamaica is still a developing country striving for growth to reflect our current ranking,” she said.The anniversary event honoured Chris Blackwell, founder of Island Records, Island Outpost and Palm Pictures. He was described as “a great man, a cultural entrepreneur and visionary, whose life has been dedicated to promoting Jamaican”, by AFJ President and former US Ambassador to Jamaica, Glen Holden, who presented Mr. Blackwell with the International Humanitarian Award.
Also attending the function were US Ambassador to Jamaica, Brenda LaGrange Johnson and Jamaica’s Ambassador to the US, Professor Gordon Shirley. Famed actor, Delroy Lindo, acted as Master of Ceremonies.