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Guyana
Tuesday, 14 July 2009 08:33
As a result, Guyana ranks second in the LAC region in terms of the importance of remittances to the national economy, with 17.6% of GDP being contributed by Guyanese living abroad in 2009, or $462 per person living in Guyana. The significant percentage of Guyanese living in the United States contributed the impact of the financial crisis on remittances to Guyana, resulting in a decline of 14.2% between 2008 and 2009. First quarter 2010 data from Central America and the Caribbean show robust improvement in the growth rate of remittances, with most countries showing remittance growth in March or April. As Guyana’s migration and remittance patterns are more closely associated with Central America and the Caribbean than with its South American neighbors, this gives hope that remittances may return to growth later this year.Short Description
Guyana is one of the countries most integrated into the global labor market. 770,000 Guyanese live within the nation’s borders, while there are approximately 450,000 living abroad. The overwhelming majority of Guyanese live in the United States, with significant populations in Canada and the United Kingdom. 85.9% of Guyanese who have completed tertiary education decide to live and work abroad. According to a 2008 Gallup poll of migration attitudes taken in 82 countries, 60% of Guyanese surveyed say they would like to emigrate if given the opportunity, second only to Sierra Leone.