February 19, 2015
Focus on Kingdom of Saudi Arabia and United Arab Emirates
The global remittance market was estimated at $582 billion in 2014. Around 13% of the global remittance (Inward and Outward) is contributed by countries in the Middle East. Saudi Arabia and UAE hold 2nd and 6th place among the top 10 remittance-sending countries in the world. Around 70% of the total remittance sent and received in the region is from the Kingdom of Saudi Arabia (KSA), and the United Arab Emirates (UAE).
Gulf countries in the Middle East region have around 15 million migrant workers. The region is the third largest hub of migration in the world.