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Egypt Ranked 5th in the World's Top Recipients of Remittances in 2018

Egyptians are clearly doing well abroad.

egyptian flag abroad

Egypt has ranked fifth in the top recipient of remittances globally in 2018, with inflows from Egyptians working abroad making up around $29 Billion. According to the World Bank’s Migration and Development Brief, the remittances rose over 17% compared to the $18.2 Billion made in 2017, which also contributed a 9% increase in the total remittances of MENA.

The report also states that the cost of sending home remittances in the MENA region declined from 7.4% to 6.9% in 2017, which is lower than the global average (7%). The cost of inflows going from GCC countries to Egypt and Jordan can sometimes be as low as 5% or less.

The Egyptian diaspora is mostly located in KSA, followed by Jordan, then the UAE. Saudi Arabia has almost 3 million Egyptian expats, while Jordan has 1.6 million and the UAE around 750,000.

Top of the list is India whose remittances amounting to $79.5 Billion.