Home Business Remittances from season workers hit new high at $247m in 2023

Remittances from season workers hit new high at $247m in 2023

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One of the seasonal workers in Australia.
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The Central Bank of Solomon Islands has estimated that our seasonal workers had remitted $247 million to the country last year.

In response to a query sent by SBMOnline, the bank said the estimate for 2023 is $247 million, as provided by the economics department.

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The money was remitted by Solomon Islanders working in Australia under the Pacific Australia Labour Mobility (PALM) scheme and in New Zealand under the Recognised Seasonal Employer (RSE) scheme.

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 Meanwhile Remittances or money sent home from Solomon Islands’ seasonal workers abroad in 2022  surged by about 64% from $111m in 2021 to a staggering $182m in 2022.

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Based on the Central Bank of Solomon Islands preliminary estimates exclusively disclosed to SBMOnline, the total remittances from seasonal workers surged by around 64% to $182 million in 2022 from $111 million in 2021.

So here are the remittances for the past 3 years:

2023 $247m

2022 $182m

2021 $111m

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