Expatriates remittances for the month of January 2021 has recorded an increase of 12% i.e SR 12 Billion when compared to the Expat remittances happened in the month of January 2020.
Expat transfer money to their home countries from Saudi Arabia which are called as Expat remittances and earlier till Dec 2020 there was a decrease in Expat remittances month over month.
Remittances of Saudis living outside the Kingdom increased by 9.4 % in the month of January 2021 reaching SR 4.27 billion ($1.14 billion), when compared to SR3.9 billion ($1.04 billion) in January 2020.
On a monthly basis, remittances of Saudis to abroad dropped by 11 percent in January 2021, compared to SR4.79 billion ($ 1.28 billion) in December 2020.
Saudi Arabia began implementing programs to localize jobs, and that cover entire sectors, which were hitherto controlled by expatriate workers, with the aim of reducing unemployment rates and providing more job opportunities for young Saudis.