Jamaica’s economy is showing renewed strength, largely driven by individuals sending money from outside of the country, according to the latest Bank of Jamaica (BOJ) report.
In the first two months of 2026, remittance inflow totaled US$542 million, indicating a 4.2% rise when compared to the same period in 2025 — and the month of February represented the highest inflow since February 2022.
Elizabeth Mortimer, who said she sends funds to her relatives regularly, was not shocked by the early growth this year.
“I am not surprised,” Mortimer explained, “because I always see several others do the same thing as I am doing. Jamaicans care about what goes on back home…so they send money to help their relatives.”
A Jamaican nurse working in one of New York City’s hospitals said she is helping her brother in St. Elizabeth with remittance funds to rebuild their family house after Hurricane Melissa severely damaged it.
The Bank of Jamaica report emphasized that 15.3% of Jamaica’s Gross Domestic Product (GDP) comes from remittance, making it a vital source of household income and national stability.
The funds overwhelmingly originate from the United States, accounting for almost two-third of the total amount. Other contributors are Great Britain, Canada, and the Grand Cayman Islands.
Although remittance to Jamaica has increased since 2022, it remains moderate when compared to other parts in the region, with countries like Guatemala and El Salvador reporting stronger growth in that area. Reports coming out of Mexico, however, show a slight decline in remittance to that country when compared to the same period in 2025.
The sector’s rebound for Jamaica also reflects recovery efforts in the aftermath of hurricane Melissa to help stabilize and support families.
