Saudi Remittance Industry

Executive Summary

What is this report about?
"Remittances” generally refers to money sent from foreign-born individuals in a country to others abroad. Monetary remittances to developing nations has witnessed a sharp rise over the last few years and are now, behind foreign direct investment, the second largest source of external financial flows to developing countries. Remittances to developing countries grew only marginally in 2015, as weak oil prices and other factors strained the earnings of international migrants and their ability to send money home to their families. Saudi Arabia has consistently ranked 2nd after the USA with regards to the outward remittance flow. With this report we have tried to analyze, the Saudi Remittance industry, the factors for influencing high levels of outward remittances and the remittances outlook.

Who will benefit and why?
The report will benefit players from remittance industry, regulators, bankers and economists. They can use this report for detailed insights about the current state, policy impact and future direction of remittance industry.

How exhaustive is this report?
We have analyzed reasons influencing remittance flows from Saudi, the remittance cost and revenues estimates for the industry players. We have also identified key factors that led to the increase in outward remittance and the impact of changing dynamics of these factors on the remittance outflow going forward. The report also discusses the measures to curb remittances and impact of trade and monetary policies on the remittance outflow.