Personal transfers of foreigners residing in Saudi Arabia amounted to 11.6 billion riyals in July 2022, down 7.3% from their level in July 2021, where it was 12.5 billion riyals. On a monthly level, the total personal transfers of foreigners residing in the Kingdom recorded a 12% decrease, as it was in June 2022, about 13.2 billion riyals.
Remittances by Saudis abroad in July 2022 increased by 49% to 6.15 billion riyals, compared to 4.13 billion riyals in July 2021. On a monthly basis, remittances from Saudis abroad decreased by 8.8 percent, as it was in June 2022, about 6.74 billion riyals.
Saudi Arabia began implementing programs to localize jobs, including entire sectors that were controlled by expatriate workers, with the aim of reducing unemployment rates and providing job opportunities for Saudi youth.
The personal remittances of foreigners residing in Saudi Arabia (expatriates) increased by 2.79 percent, or about 4.18 billion riyals, in 2021, to reach 153.87 billion riyals ($41.03 billion), compared to 149.69 billion riyals ($39.92 billion) in 2020.
Source (Al-Arabiya.net Website, Edited)
