Expats in UAE ship £25bn home in nine months
Expat workers sent £25bn home from the United Arab Emirates (UAE) in the first three quarters of the year, according to remittance advice published in a report by the UAE Central Bank.
This represents a 2% rise in such remittances compared with the corresponding period last year, the bank said.
About £18bn of the total was transferred using money exchange firms, with the rest being sent via banks.
Asian workers, who account for 82% of the labour force in UAE, sent more than half of the total amount.
The highest sums were sent to India, with more than £3bn sent there during the third quarter.
This accounted for more than a third (36%) of all money transferred during the quarter.
The second country to receive funds from UAE was Pakistan, which received 8.7% of all funds, and the Philippines in third place on 6.7%.
Egyptians sent home 4.8% of the total, closely followed by US nationals on 4.1%.