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Egypt ranks globally fifth in remittances

By Hilal Mir
February 14, 2023 11:10 pm
  • Remittances to low- and middle-income countries withstood global headwinds in 2022, growing an estimated 5 percent to $626 billion.
  • The growth was, however, lower than the 10.2 percent increase in 2021, World Bank Migration and Development Brief said in a report in Nov 2022.

Dubai, UAE—Remittances to low- and middle-income countries withstood global headwinds in 2022, growing an estimated 5 percent to $626 billion, which is lower than the 10.2% increase in 2021, World Bank Migration and Development Brief said in a report in Nov 2022. Remittances are a vital source of household income for Low and Middle-Income countries, as they alleviate poverty, improve nutritional outcomes, and are associated with increased birth weight and higher school enrollment rates for children in disadvantaged households, the World Bank said. TRENDS takes a look at remittances in the Arab world in 2022:

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