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FINANCIAL NEWS
Remittances to MEA up 6% in Q1
22 Jun 2012
(MENAFN) A recent study by the Cairo University showed that during the first quarter, remittances to countries in the Middle East and Africa (MEA) grew by 6 percent from a rise of 2.6 percent in 2011’s same period, reported Arabian Business.
The study, which was sponsored by Western Union, attributed the rebound to growing volumes of construction projects in Gulf Cooperation Council (GCC) countries.
The report also revealed that people working in the GCC, mainly in infrastructure, do all the work and send the money to their countries.
It is worth noting that GCC nations, including Saudi and the UAE largely depend on South Asian and African migrants in the construction sector.
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