The Institute for Dominicans Abroad (INDEX) presented the results of two studies reflecting the number of nationals residing in other countries and the main recommendations on mechanisms to reduce the transactional costs of remittances sent to the Dominican Republic.
The vice minister for Dominican Communities Abroad and executive director of INDEX, Carlos de la Mota, emphasized that the data from both studies, carried out with the support of the International Organization for Migration Development Fund, constitute a fundamental tool for the implementation of projects that the diaspora needs for greater social welfare, as well as for the creation of public policies aimed at our Dominican community abroad.
He pointed out that these efforts are part of the commitment assumed by President Luis Abinader and Foreign Minister Roberto Alvarez as part of the implementation of axis number one of the Foreign Policy of the Government of Change, focused on the protection of Dominicans wherever they are.
About the registry
The Sociodemographic Registry of the Dominican Communities Abroad was carried out based on official sources obtained from more than 100 states and agencies abroad, it has counted 2,531,618 Quisqueyanos residing outside the country, with the United States being the country with the largest presence of our diaspora.
Although Dominicans are present in the five continents of the planet, the greatest concentrations are in America and Western Europe, since outside these areas there are only 2,293 Dominicans residing officially (equivalent to 0.1% of the data collected), in other parts of the world.
Among the main representations of the Dominican Diaspora recorded in the registry, 2,094,222 Dominicans (and/or of Dominican origin) reside in the United States; 186,395 in Spain; 53,703 in Puerto Rico and 29,111 in Italy.
The vice minister said that from the data available in the “Report of the Sociodemographic Registry of Dominicans Residing Abroad” it can be inferred that 54.2% of the total number of Dominicans living abroad are women, while the remaining 45.8% correspond to men.
The study that makes visible the presence of Dominicans abroad was made from data collected by the Directorate of Research and Study of the Vice Ministry for Dominican Communities Abroad, through official entities in charge of the compilation of population and/or migratory statistics and figures from the United Nations System.
On the “State of the Intermediation of Remittance Transfers”.
INDEX also presented the report on “The State of the Intermediation of Remittance Transfers and Perspectives towards its Modernization for Financial Inclusion in the Dominican Republic”, for which the main consultant, Dr. Manuel Orozco, reviews the competition in the market and, particularly, issues recommendations to reduce transaction costs in remittance transfers.
He specifically advises financial inclusion measures through user training, improved information about the sector (considering costs and competition in this market), greater knowledge about the industry, the creation of a working group, and a dissemination campaign for the diaspora.
“It is essential to reduce the costs of sending remittances, but, above all, to create instruments that channel the savings potential of the Dominican diaspora, work on ideas for productive inclusion and encourage investment in national development priorities,” said Josué Gastelbondo, IOM chief of mission in the Dominican Republic, during his speech at the presentation of the study.
The document includes a general profile of the migrant population in various countries, the characteristics of remittances, as well as an in-depth analysis of the remittance market. Dr. Orozco also highlights the need for Dominicans abroad to take advantage of digital technologies, thus maximizing their remittances.