Would Remittances Stop?
I wonder if Jamaica's economy were to dramatically improve, whether or not the remittances would slow down.
Also, I wonder if the economic gains would be offset by a remittance reduction, as Jamaicans abroad come to believe that Jamaicans back home don't need the cash as much as they used to.
I wonder how much the government knows about this, a critical part of our economy that is built on the success of Jamaicans abroad. What is the psychology of an overseas Jamaican? Are they sensitive to reports of progress? Should their contribution be encouraged?
I know that Jamaica is not the only developing country that relies on remittances, but I wonder if it's seen as a bonafide "market" that is built on a belief that news of hard times requires a trip to Western Union.