Posted by : Aahil Shaik Wednesday, October 26, 2016
INDIANS REMITTING LESS TO HOME COUNTRY COMPARED TO PAKISTANIS
World Bank report revealed that Indians living in the GCC countries(including Saudi Arabia) are sending less money to home comparing to Pakistanis living in GCC countries. Recommend : Saudi Arabia says no tax on remittance of expats
As per the report of World Bank "Trends in Remittances 2016", Even though India will remain in the first spot for receiving largest remittances in the world. Most Viewed : Send Money from Saudi Arabia to Home Country
- The expected top remittances of this year 2016 are India, China, Philippines, Mexico and Pakistan as per the nominal US dollar terms.
- As per the reports Indians sent 5 billion dollars less compared to the amount sent last year, Last year also Indians sent less money compared to they sent before last year. Trending : Proposal of 6% Tax on remittance of expats
- Now the question raised is, Why Indians are sending less money to their home country or families or parents? While Pakistanis are remitting more than previous years.
- If the reports of 2016 is to be believe, It is expected that India reduced the remittance by 5% and Bangladesh by 3.5%, While Pakistan grown the remittance by 5.1% and Sri Lanka by 1.6%. Related : TeleMoney remittance center
- Remittance from GCC countries reduced due to effect in oil prices and the government reserved jobs for nationals as "Saudization" program in the Kingdom of Saudi Arabia.
- The above graph shows 2016 remittances country wise in ranking, India, China, Philippines, Mexico, Pakistan, Nigeria, Egypt, Bangladesh, Vietnam, Indonesia. Similar : Cash withdrawal limit per day in Saudi ATM Machines