Expat remittances from GCC are highest in the world

Remittance outflows from Gulf Cooperation Council (GCC) countries were the highest in the world in 2025, rising almost 14 percent year on year.

Remittances rose for a second straight year, up $19 billion to more than $161 billion, driven by growth in the expat population and the economy, the state-run Wam news agency reported, citing a report by GCC-Stat, the body that compiles data on the six-nation bloc.

Workers’ remittances as a share of GCC countries’ gross domestic product rose to 6.6 percent in 2025 from 6 percent in 2024, it said.

Expat remittances from the US reached $107 billion, Switzerland $43 billion, Germany $27 billion and France $21 billion.

This month, International Monetary Fund (IMF) managing director Kristalina Georgieva said she expects the GCC economy to contract in 2026, reflecting a sharp drop in hydrocarbon production and a marked slowdown in non-hydrocarbon growth.

“For 2027, conditional on gradual normalisation of shipping, we project a strong recovery. But uncertainty remains high and the geopolitical situation fluid. The outlook hinges on the duration, severity, and geographic scope of the conflict,” she said.

Similarly, Oxford Economics and the Institute of Chartered Accountants in England and Wales expect the GCC economy to shrink by 6.4 percent in 2026 as the regional conflict affects energy exports. However, the combined economies are likely to expand by 5.8 percent next year.

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