THE Bank of Jamaica (BOJ), in its new remittance report, indicates that for the January to July 2022 period remittance inflows to Jamaica amounted to US$1,959.4 million.

Inflows are expected to track pass the US$2-billion mark in the August report pending.

Visitors travelling with cash instead of using remittance channels were identified as a cause of slowing inflows.

In a regional comparison, it was noted, nevertheless, that that this outturn represented a decline of 3.4 per cent as opposed to Mexico, which registered growth of 16.5 per cent, while El Salvador registered growth of 3.1 per cent for the period July 2022.

https://www.jamaicaobserver.com/business/us2-billion-in-remittances-so-far/