Latest News
- MoH Welcomes 12 Visiting Doctors For July Program
- Egyptian Gets 7-year Sentence And Penalties For Kuwait Towers Ti...
- Ministry Sets 15-minute For Friday Prayers In Hospital And Marke...
- No Entry To Kuwait University Without An ID Card
- Minors Affairs Authority Added New Services To The Sahel App And...
- Ethiopia Place A Strict Measures For Its Workers Going To Kuwait
- This Friday, Cairo Street Road Tunnel No. 2 Will Open
- Legal Experts: Both Social Media Offenders And Creators Liable
- Ministry Of Interior Identifies 90 Expired Residency Violators U...
- The Darwaza Abdulrazzaq Project Will Reopen Soon
- A Crackdown On Visa Violators As The Amnesty Period Ends
- MoE Sponsored 77 Residence Violators Plus 13 Visit Visa Violator...
Global Expat Remittances: Kuwait Ranks Third In Arab World And Tenth Globally
![](https://kuwaitlocal.com/files/news/images/global-expat-remittances-kuwait-ranks-third-in-arab-world-and-tenth-globally-Kuwait-2024-06-30-17-15-56.webp)
According to the latest “Migration and Development Brief” by the World Bank, Kuwait has secured the third position in the Arab world and tenth globally for the volume of international remittances sent in 2023. Expatriates in Kuwait sent approximately $12.7 billion back to their families and communities in their home countries.
The report highlights that the UAE topped the global rankings and secured first place in the Arab world with remittances totaling about $38.5 billion. Saudi Arabia followed closely in second globally and second in the Arab world with remittances amounting to approximately $38.4 billion. Qatar ranked fourth in the Arab world with around $11.8 billion in remittances, while Bahrain trailed with about $2.7 billion.
Globally, the United States led as the top sender of international remittances, with outflows totaling $85.8 billion in 2023. Switzerland followed in fourth place with $35.7 billion, and Germany in fifth with $24.1 billion.
The report also noted a 13% decrease in outward remittances from Gulf countries compared to 2022, marking a reversal from the upward trend observed from 2010 to 2019. This decline follows fluctuations since 2019.
India ranked first globally as the largest recipient of international remittances in 2023, receiving $119.5 billion, followed by Mexico with $66.2 billion and China with approximately $49.5 billion.
Furthermore, remittance flows to the Middle East and North Africa region decreased by 15% to $55 billion in 2023, primarily due to reduced flows to Egypt, as outlined in the World Bank’s findings.
Trending News
-
Kuwait Lifted The Ban On Filipino Workers
23 June 2024 -
Kuwait Relaxes Family Sponsorship Rules
30 June 2024 -
2 Hours Power Cut In Multiple Areas Of Kuwait Betw...
20 June 2024 -
Kuwait Interior Ministry Relocates Expats In Bneid...
17 June 2024 -
Kuwait To Lift Ban On Transfer Of Domestic Help Vi...
26 June 2024 -
Pakistani Passenger Tragically Dies At Kuwait Airp...
19 June 2024 -
Crackdown On Building Violations In Kuwait Followi...
27 June 2024 -
40 Areas In Kuwait Affected By Major Power Outage...
19 June 2024 -
Kuwait To Add 1,200 Megawatts To Address Electrici...
22 June 2024 -
Kuwaiti Woman Beaten To Death
29 June 2024
Comments Post Comment