When the Haitian Diaspora is broke, it effects on the Haitian Economy

All the Money Transfer Options to Haiti: Western Union, CAM Transfer, and Unitransfer and more...

We spoke to a few people in the diaspora to try to understand why they are unable to send the remittances they used to send to Haiti before. There are a few reasons for that:

1 - Many Haitians from diaspora are retiring. Retirement for an old Haitian who, on average, didn't have a great job to start with, means they have less money in their pockets. It's more like a fixed income every month and a very tight budget and, of course, less money transfers for the family back home.

One retired Haitian in the USA told us: "My retirement money is not even enough for me to pay my rent, my wife had to to get a second job so we can continue to live. How can I send money to people in Haiti?"

2 - Many Haitians in the diaspora are making less money they they used to and Haitians in Haiti don't realize it but prices are going up all over the world including the country where the diaspora lives. Yes it's true.

Nowadays, your diaspora family or friend has less buying power with the money in his or her pocket.

3 - More Responsibilities, more bills, rise in the cost of living...

The Haitian diaspora's ability to send money home is hindered by a trifecta of challenges.

Firstly, an increase in responsibilities means higher financial commitments, leaving less disposable income for remittances.

Secondly, elevated living costs in the US demand a larger portion of their earnings, limiting their capacity to send substantial funds.

Lastly, mounting bills further strain their financial resources, leaving them with reduced remittance amounts.

These combined challenges result in a reduced ability to send financial support back to Haiti, ultimately impacting the nation's economic stability and development prospects.

How does that affect the Haitian Economy.

I hate to say this but... There are many people in Haiti who build a lifestyle on the back of hard working Haitians in the Diaspora.

They live, eat, sleep and party with diaspora money. That's their only source of income. So when the Diaspora breadwinner who used to send the money is suddenly unable to send the same amount or worse no money at all, the family member at home is caught with "2 pye l nan yon grenn soulye" (both feet in one shoe) as Haitians love to say.

What do you think about this?

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Read more: Haiti Diaspora News, Money Transfer to Haiti, Haitian Diaspora, Haitian Family, Haitian Diaspora News, Money and Finance

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