Here’s another fun fact about economics: “Remittance Economy” refers to the significant role that remittances—money sent back home by nationals working abroad—play in the economies of many Pacific Island countries. Nations like Tonga, Samoa, and Fiji heavily rely on remittances, which can account for a substantial portion of their GDP. These funds help support families, improve living standards, and contribute to national economic stability. The dependence on remittances highlights the interconnectedness of Pacific Island economies with global labor markets and the importance of diaspora communities to their home countries’ economic health.
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Lytton Advisory 