rted
that expatriates in the Gulf Cooperation Council (GCC) have turned $
100 billion to their home countries in 2014, which is twice the amount
that transformed it in 2010.
The director of economic studies at the Foundation “Center” Kuwaiti
Finance Raghu Mandagaoutur The total fund transfers to their countries
of expatriates in the Gulf continues to increase.
The total funds transferred about 6.2% of the GDP of the Gulf states
combined, according to the study, a significantly high figure compared
to the value of foreign remittances in the United States (0.7% of the
total gross domestic product) and Britain (0.8%).
Saudi Arabia comes in first place in terms of the value of
remittances ($ 44 billion), followed by the UAE (29 billion), Kuwait (12
billion) and Qatar (9.5 billion).
Live nearly 25 million expatriates in the six Gulf Cooperation
Council (GCC), namely Saudi Arabia, UAE, Kuwait, Qatar, Oman, Bahrain,
and the total number of equivalent number of Gulf citizens.
Most expatriates in the Gulf comes from India, Pakistan, Egypt, the Philippines, Bangladesh, Indonesia, Sri Lanka and Yemen.
The study explains the high amount of remittances to the nature
residency laws that exclude arrivals for citizenship, including not
conducive to investment or acquisition.
Gulf expat workers’s remittance $100 billion
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