Thursday, February 13, 2025
Expat remittances exceeds 144 billion riyals, highest since 2021
Expatriate remittances in Saudi Arabia increased by 14% last year to SR144.2 billion in 2024, up from SR126.8 billion the previous year, according to government figures. Trending: Guidelines for Hajj 2025 for domestic pilgrims
The Saudi Central Bank said that the biggest number of transfers made by foreign nationals residing in the kingdom since 2021 took place in the year 2024.
With the exception of January and February, remittances increased in every month of the year 2024.
According to the Saudi news portal Akhbaar24, which cited numbers from the Saudi central bank, expat remittances reached a record high of over SR14 billion in December, the highest level since March 2022.
Meanwhile, in 2024, the amount of money sent overseas by Saudis was approximately SR68.6 billion, which is an 11% rise from the previous year. Read: The first day of Holy Ramadan in Saudi Arabia
Every month of 2024 saw an increase in their transfers, with the exception of March and June.
Expats make up a sizable portion of Saudi Arabia's population of more than 35 million people.
In a recent announcement, the General Authority for Statistics revealed that by mid-2024, the population of Saudi Arabia had reached 35.3 million. Of this total, about 15.7 million people, or 44.4%, were not native Saudis. Join Saudi Expatriates news channel on Telegram
Expat remittances exceeds 144 billion riyals, highest since 2021 - Saudi-Expatriates.com
