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Middle East Remittance Market Outlook – A Research Report


February.20.2015 0 Comments

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.

Remittance projections in Saudi Arabia and UAE

Inward remittance in KSA is expected to reach around $327 million by 2019, where as outward remittance from KSA is expected to touch $57,397 million by the same time.

Inward remittance in UAE is expected to reach around $1,648 million by 2019; where as outward remittance from UAE is expected to touch $28,207 million.

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LTP along with Knowledgefaber is publishing a report on the Middle East Remittance Market that will find answers to the following questions:

  • How is the remittance landscape changing in the Middle East?
  • How would Nitaqat laws implemented by Saudi Arabia and Emiratisation by UAE affect the labour and remittance industry in the region?
  • Is it easy for companies to do remittance business in KSA and UAE? Do they need to partner with any financial institutions?
  • What are the major channels of remittance from these countries?
  • Is mobile remittance the future?
  • What are the critical success factors for remittance businesses in the Middle East region?
  • Remittance Market in Saudi Arabia and UAE

SAMPLE CHARTS

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Formal Inward remittance by Countries (Sample)

 

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Detailed contents of the reports:

Middle East Remittance Market Outlook – A Research Report
Focus on Kingdom of Saudi Arabia and United Arab Emirates

  1. Macroeconomic indicators
  2. Labor migration to KSA and UAE
    1. Category-wise overseas employment in Saudi Arabia and UAE
    2. Overseas employment by nationalities
    3. Reasons for migration to Saudi Arabia and UAE
    4. Opportunities in Saudi Arabia and UAE
  3. Overview of remittance industry
    1. Remittance regulations in Saudi Arabia and UAE
    2. Characteristics of remittance industry in the country
    3. Drivers and inhibitors of remittance in KSA and UAE
  4. Remittance Market Size – Kingdom of Saudi Arabia and UAE (2014)
  5. Remittance projections –Inward and Outward (2014 – 2019)
  6. Remittance received and sent by countries
  7. Market share by players
  8. Market share by channels
  9. Cost of sending remittance from KSA and UAE through cost effective corridors
  10. Emerging trends in the remittance business
  11. Critical success factors for remittance business in KSA and UAE