VVP posted:caribny posted:I suggest to you that declining remittances has more to do with declining ties as parents die, children grow up, and many who benefit from this join their relatives overseas. In addition overseas Guyanese have the same financial challenges as do others living in North America so have less disposable cash to spare as they pay their mortgages, educate their kids and prepare for their retirement.
Remittance will decrease with a crackdown in drug trafficking and money laundering. In theory the more people suffer in Guyana the higher the remittance should be and that is not happening.
Did you read what I wrote. People send money to those who they care about. Over time fewer people exist who they care about. For instance how many Guyanese who migrated to the UK still send money to Guyana? Few because those Guyanese left in the early 60s and so those ties are just about gone.
The problem with a remittance based economy is that it relies on personal ties. Parents die, kids grow up, relatives migrate and friends fall out. So if the people who live in Guyana have fewer ties to those who don't they will get less help. I suspect that those who migrated in the 70s and 80s send way less back to Guyana than those who migrated later.
The additional fact is that the North American economy is changing and the areas where many Guyanese find themselves is becoming more challenging. Many of the lower mid level service jobs that many Guyanese and other Caribbean people are employed are being outsourced or automated. Just look at your average office and see how few support staff exist compared to 20 years ago. They are just less able to help, especially as many grow tired of sacrificing for people who seem ungrateful and unwilling to help themselves.
The reality is that in NYC the growth points for jobs are at the upper levels and at the lower levels. We haven't succeeded in penetrating the upper levels in high numbers and we tend not to be in the lowest jobs because we speak English. I have a suspicion that those Guyanese who have done best send less to Guyana because their relatives in Guyana are also doing well and don't need it.