Dubai: Jordan and Egypt are key receivers of remittances within the Middle East and North African (Mena) region, according to a statement from Xpress Money, citing World Bank Group remittance data.
Last year, Egypt received around $19.7 billion (Dh72.35 billion) in remittances from around the world, of which $1.83 billion came from the UAE, while Jordan received $3.8 billion from across the globe, and $716 million from the UAE.
Remittances play an important part in both countries’ economies, contributing 6.8 per cent to Egypt’s gross domestic product (GDP) in 2014, and 10.4 per cent to Jordan’s GDP.
Remittances to Jordan and Egypt are expected to remain robust as the UAE hosts global events such as the Expo 2020, generating employment opportunities for Arab nationals.
“The UAE is a very active hub for remittances to non-GCC countries in the Mena region. The country’s multinational mix and vibrant economy, creates opportunities for large expatriate Arab populations. Remittances from the UAE to countries in the MENA region and Asia have been growing year on year, and we are expecting it to accelerate as we approach 2020,” stated Sudhesh Giriyan, Xpress Money’s chief operating officer.
Around 400,000 Egyptians live in the UAE, making them the largest Arab expatriate community in the country, while approximately 200,000 Jordanians reside in the country, according to the statement.
