Kuwaiti Expats Top Arab World Remittances Despite Global Decline
Kuwait City, Kuwait: A new World Bank report reveals that Kuwait ranks third in the Arab world and tenth globally for the amount of money expatriates sent home in 2023. This dedicated workforce contributed a significant $12.7 billion to their families and communities abroad.
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The report highlights the UAE as the leading remittance sender in the Arab world and globally, with a staggering $38.5 billion. Saudi Arabia followed closely behind at $38.4 billion. While remittance flows from Gulf countries saw a 13% decline compared to 2022, Kuwait’s expats continue to be a major financial pillar for their home countries.
Globally, the United States remains the top source of remittances, with India receiving the most – a massive $119.5 billion in 2023.
This news underscores the vital role that expatriate workers play in supporting their home economies. Kuwait’s ranking reflects the significant contributions these individuals make to both their adopted nation and their countries of origin.
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