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With UAE economy recovering, expats could send more money home

With UAE economy recovering, expats could send more money home
Waheed Abbas/Dubai
Filed on March 13, 2021 | Last updated on March 19, 2021 at 02.04 pm
A revival in the UAE s economic activity will be a huge boost to the remittance business.
(File photo)
Economic recovery to aid rebound; lingering pandemic effects to hit global activity
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.
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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. ....

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Remittances from UAE likely to rise in 2021 as economy steps up

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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