Expat Money Flow Surges in Saudi Arabia

Expat Money Flow Surges in Saudi Arabia

Arabian Post -Money sent home by foreign workers in Saudi Arabia reached a two-year high in March, reflecting a growing expatriate population and their evolving financial habits. According to official data, remittances climbed 28% compared to February, reaching a total of $3. 2 billion (SR 11. 96 billion). This marks the highest level of expatriate money transfers since June 2022. The surge in remittances is attributed in part to […]

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Money sent home by foreign workers in Saudi Arabia reached a two-year high in March, reflecting a growing expatriate population and their evolving financial habits. According to official data, remittances climbed 28% compared to February, reaching a total of $3. 2 billion (SR 11. 96 billion). This marks the highest level of expatriate money transfers since June 2022.

The surge in remittances is attributed in part to Saudi Arabia’s ambitious development plans. The launch of new projects has fueled demand for foreign labor, leading to an increase in the number of expatriates residing in the Kingdom. As these expat workers settle into their jobs and potentially earn higher wages, their financial capacity to send money back home also grows. This trend is