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Last year more than $5 billion dollars in remittance for Dominican Republic

In 2016, Dominicans and foreigners transferred more than 5 billion dollars to family and friends in the Dominican Republic. Compared to 2015, an increase of 8.1%. Usually the transfer (remesas familiares) runs via Western Union, Ria Envia, or MoneyGram and the average amount is $250. After the tourism industry and export of fruit and vegetables, Remittance is the third source of revenue for the country.

Most of the transfers are made from the United States (70.39%). Spain is second with 15.53%. In Sosúa, hundreds of families depend on money from abroad. Just visit the Western Unión office opposite Supermercado Playero, there you can see a line of people all day who come to collect money. Money transferred from the USA, Spain, Germany, or money from a gringo who wants to support his sweetheart. Unemployment among the people of Sosúa is very high. At least 60% of young people is unemployed. But thanks to these donations, many families can survive in Sosúa. However, this also has a negative effect: it seems the youth is discouraged to look for work and contribute to the economic development of the country.

Source: Sosua News, acento.com.do

Apr 22, 2017

Category: DR News |

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Last updated October 22, 2017 at 1:41 AM
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