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Remittances from UAE likely to rise as economy steps up Waheed Abbas © Provided by Khaleej Times Remittances from UAE likely to rise as economy steps up Remittances from the UAE are expected to improve this year compared to 2020 as the economy recovers, but the global outlook is not rosy due to lingering effects of the pandemic. Following a 10-15 per cent drop in 2020, foreign exchange industry executives in the UAE are confident of a recovery in remittances despite some uncertainties surrounding the sector. Globally, remittances are likely to drop a further seven per cent in 2021 as recessions in host countries have made it difficult for migrants to send money home owing to the pandemic s lingering effects on the global economy, the Economist Intelligence Unit (EIU) says.

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