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%.

 

 

ABOUT THE AUTHOR
Eugene Costello
Eugene Costello has been a journalist for some 20 years, and has written for a wide variety of UK and international newspapers and magazines.

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