How can we use the skills & capital of the diaspora?
18 May
President Barack Obama and Governer-General Michaëlle Jean (19-2-2009 - Mike Carroccetto/Getty Images N. America)
The diaspora numbers 2 – 4 million Haitians and sends nearly $ 2 billion a year to Haiti which represents 20 – 25% of the entire local Haitian economy. The vast majority of college-educated Haitians are overseas and many of them are very well-connected in their host countries. The economic potential is enormous. 3 million Haitians (probaby closer to 4) that hold $50 000 in equity in their homes (probably higher) currently hold (excluding savings or any other investments or holdings) $ 150 billion in real estate. 3 million Haitians that make $ 20 000 in income for example represent a $ 45 billion market, per year. This is about 10 times the size of the entire local Haitian economy. To put this in perspective, if the diaspora were a country, it would be Uruguay which has about 3.5 million people and an economy worth $ 40 billion. Panama has a similar population and is about half that economically. How can we use this vast pool of Haitian knowledge, capital and connections for Haiti’s development ?
Please answer with comments below. Comments are moderated.
Tags: Questions
