The Caribbean diaspora in the United States has had a major impact on the U.S. economy, particularly through the remittances sent from family members living in the U.S. back to their home countries. Remittance inflows from the diaspora of many Caribbean countries have increased drastically in recent years, with some countries such as Haiti, Jamaica and the Dominican Republic among the most important recipients.

Remittance flows have been used extensively over the past decade to support development projects. For example, remittances from the Caribbean diaspora help support education, health-care services and access to energy for rural households in the region. They have also been used to promote entrepreneurship, with remittances investments being increasingly leveraged for small business support and to fund start-ups.

The Caribbean diaspora has also had an impact on the U.S. economy through its buying power. According to the U.S. Department of State, Caribbean diaspora households in the U.S. had a higher median income than the overall U.S. population ($44,073 compared with $30,486). This means they are more likely to make higher-value purchases that generate more spending in the economy.

In addition, Caribbean diaspora members often exhibit higher levels of education and professional skills than the U.S. average. This has provided a valuable source of human capital for the U.S. economy, with the Caribbean diaspora making up a major component of the health care, finance and engineering industries in the U.S.

Overall, the economic impact of the Caribbean diaspora in the United States has been overwhelmingly positive. Through its investment, households and human capital, the diaspora has enriched the U.S. economy and made it more competitive on the global stage.