Saudi Arabia's Expat Remittances Reach $38.45 Billion in 2024

Expatriate workers in Saudi Arabia sent home SR144.2 billion in 2024, marking a 14 percent increase from the previous year, according to data from the Saudi Central Bank . This figure represents the highest level of remittances in three years.

In December alone, non-Saudi transfers amounted to SR14.02 billion, a 31.7 percent rise compared to the same month in the previous year. This surge is largely attributed to the robust growth of the Saudi economy, driven by Vision 2030 projects, which have increased demand for labor across various sectors.

Remittances sent abroad by Saudi citizens also reached a two-year high in 2024, totaling SR68.61 billion—a 10.74 percent increase compared to 2023. In December, these transfers surged to SR7.66 billion, the highest monthly value in over seven years.