GCC expatriates sent $100 billion home in 2014

GCC expatriates sent $100 billion home in 2014

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Bahrain: Expatriates working in Gulf countries sent $100 billion in the form of remittances to their home countries in 2014, according to the latest report confirmed by the World Bank.
The amount is estimated at four per cent to 10pc of the combined GDP of the six GCC states.Bahrain Centre for International, Strategic and Energy Studies (Derasat) board of trustees chairman Khalid Al Fadhala said the total volume of economy made up by illegal expatriate workers in Gulf markets is estimated at approximately 19pc of the total volume of economies in the GCC, which may pose numerous threats at all levels.
He was speaking as he took part yesterday in a symposium held by Derasat under the theme ‘Illegal Expatriate Workers in GCC Countries: Challenges and Solutions’.
Federation of GCC Chambers secretary general Abdulrahman Naqi said India, Pakistan, the Philippines, Sri Lanka and Egypt hold 80pc of the total amount of funds transferred by expatriates from the Gulf to their home countries. – Bahrain News via Migrants Forum of Asia
http://www.gdnonline.com/Details/63549/GCC-expats-sent-$100-billion-home-in-2014

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