Attractive
Despite the pressure from other countries on the human capital of Guyana and other developing countries, there are benefits to having a diaspora. Several studies contend that remittances help to reduce poverty in developing countries. When compared with other foreign inflows to developing countries, remittances ranked second in importance to direct foreign investment. For Guyana, remittance is the top foreign inflow, averaging US$319 million per annum over the last five years, and beat out all the major exports. The diaspora is also seen as an important source of knowledge transfer. The intellectual capital that leaves the homeland is often enhanced by work experience and additional training, particularly in developed countries that have sophisticated and effective educational, operational and management systems. Sometimes these experiences translate into foreign investments. In a manual published this year by the International Organization for Migration (IOM) and the Migration Policy Institute (MPI), the Diaspora can play important roles in areas beyond remittances, intellectual capital transfers and direct foreign investments. They are also sources of capital market investments, tourism and philanthropy. Some countries like India,
