Here's Why Remittances from Egyptians Abroad Surge 70% to $32.8 Bln

The spike to $32.8 billion is likely a combination of currency dynamics, increased need at home, economic recovery abroad, and government reforms that made remitting money easier and more attractive.

Favorable Exchange Rates Encouraged Transfers

When the Egyptian pound weakens or undergoes managed depreciation—as seen in past years—Egyptians abroad often send more money home to maximize value in local currency.

If official rates become more competitive (narrowing the gap with parallel markets), more remittances flow through formal banking channels.

Economic Uncertainty at Home Increases Family Support

Inflation and subsidy reforms in Egypt may have increased financial pressure on families.

Egyptians abroad typically respond by boosting financial support for dependents back home.

Regulatory Incentives and Banking Reforms

Egypt’s central bank has improved the efficiency of remittance channels, reduced transfer fees, and expanded cooperation with foreign banks.

Government campaigns encouraging Egyptians abroad to support the economy may have contributed to a nationalist or trust-driven spike.

Recovery of Gulf Economies (GCC)

A large portion of Egypt’s expat workforce lives in the Gulf. The economic rebound in Saudi Arabia, UAE, and Kuwait, driven by oil revenues and large infrastructure spending, has increased job security and earnings for Egyptian workers.

This gave them greater capacity to remit higher amounts.

Global Job Stability and Currency Arbitrage

Post-COVID economic stabilization and increased demand for skilled labor abroad in sectors like healthcare, construction, and services likely boosted Egyptian incomes overseas.

Also, some may transfer funds now in anticipation of further currency or inflation shifts.

Real Estate and Investment Motivation

Many expats send money to invest in Egyptian property or businesses.

A weaker pound makes buying assets in Egypt cheaper for those earning in dollars, euros, or Gulf currencies.

During the period July/May of FY 2024/25, remittances from Egyptians working abroad recorded a significant leap. 

The remittances rose by 69.6%, reaching about $32.8 billion (compared to around $19.4 billion during the same period a year earlier).

Likewise, remittances increased during the period January/May 2025 by 59% YoY to record around $15.8 billion (compared to about $9.9 billion).

On a monthly basis, remittances in May 2025 rose by 24.2% YoY to register about $3.4 billion, representing the highest level of inflows ever recorded in May (compared to around $2.7 billion).