Remittances up, air traffic down

JAMAICA had a 9.5 per cent enhance in remittance inflows throughout January from US$246 million to US$255.50 million ($40.02 billion), as america of America’s share of remittance inflows moved as much as 69.7 per cent.

Remittances signify funds despatched by individuals abroad (originating market) to people abroad (receiving market). These funds are largely used to assist primary consumption akin to paying payments and buying meals, supporting housing or building, and as items to family members or pals. A rise in remittance inflows tends to signify a higher want by individuals within the receiving market to cowl their bills.

Whole remittance inflows had been marginally down, from US$3.37 billion to US$3.36 billion in 2024, however nonetheless stay above 2019 which had US$2.41 billion in inflows. The yr 2021 was the best for remittance inflows, at US$3.497 billion throughout the peak of the COVID-19 pandemic.

For the primary 10 months of the 2024/2025 fiscal yr (April 2024 – January 2025), whole remittance inflows moved from US$2.815 billion to US$2.816 billion. Remittance firms noticed a 7.9 per cent decline in inflows — from US$2.453 billion to US$2.445 billion — whereas different remittances elevated 8.7 per cent, from US$362.4 million to US$371.1 million. Aside from the USA, the UK, Canada, and Cayman Islands represented 25.5 per cent of remittance inflows whereas different markets represented 4.8 per cent.

There was a decline within the variety of lively areas by remittance service suppliers, from 514 to 492, whereas the variety of lively areas decreased from 858 to 842.

Air journey down

For the month of March, Sangster Worldwide Airport (SIA) reported a 7.7 per cent dip in whole terminal passengers from 522,800 to 482,600, whereas Norman Manley Worldwide Airport (NMIA) had a 13 per cent enchancment from 148,400 to 167,000 passengers. Nonetheless, SIA handles 70 per cent of air visitors into the island, which implies that the online enhance at NMIA didn’t offset the general decline in passenger arrivals for the month.

The primary quarter (January to March) noticed an 8.1 per cent decline in whole terminal passengers at SIA from 1,457.3 million to 1,338.9 million. NMIA noticed a 9.2 per cent enhance in whole terminal passengers from 392,000 to 428,100.

SIA reported a 3 per cent dip in whole terminal passengers from 5.21 million to five.06 million passengers for 2024, whereas NMIA noticed a two per cent rise in whole terminal passengers from 1.75 million to 1.78 million.

Whole cruise customer arrivals had been down one per cent in 2024 from 1,265,734 to 1,252,632. Whole stopover guests decreased from 2,916,006 to 2,900,358, in keeping with Jamaica Vacationer Board knowledge.

— David Rose