Saudi Arabia: Expatriates in Saudi Arabia sent SR14.91 billion ($3.95 billion) abroad in July, a 15.4 percent increase from the same month last year, according to the latest data.

Figures from the Saudi Central Bank, also known as SAMA, showed that transfers by Saudi nationals also climbed, rising 13.8 percent to SR6.61 billion.

Cumulatively, in the first seven months of 2025, expatriate remittances advanced 22.26 percent year on year to SR98.6 billion, while transfers by Saudis rose 14.26 percent to SR37.32 billion, the central bank’s monthly report indicated.

Several factors are driving the surge. Chief among them is a tightening labor market, with unemployment among Saudis and non-Saudis falling to a record 2.8 percent in the first quarter of 2025, according to the General Authority for Statistics. That points to resilient demand for workers and steady income flows.

The Kingdom’s push toward a cashless economy has also made cross-border transfers faster and cheaper. SAMA data showed retail e-payments rose to 70 percent of consumer transactions in 2023, up from 62 percent in 2022, as national rails processed 10.8 billion payments. The shift accelerated in 2024, with e-payments reaching 79 percent of retail transactions.

Seasonal factors such as summer travel and overseas family commitments typically lift transfer volumes mid-year.

Technology is playing a bigger role in how money moves. Fintech tie-ups now allow residents to initiate international transfers directly from digital wallets and super-apps, expanding options beyond traditional counters.

In February, Western Union and urpay announced a collaboration enabling cross-border remittances through the urpay app, adding to a growing roster of digital channels in the Kingdom and supporting Vision 2030’s financial-inclusion goals.

Costs remain a factor. The World Bank’s Remittance Prices Worldwide tracker put the global average fee at 6.49 percent in the first quarter of 2025, underscoring scope to lower charges as competition and digital rails deepen.

Within the G20, Saudi Arabia ranked among the least expensive markets at 5.23 percent, just behind Australia at 5.11 percent, France at 5.14 percent, and the UK at 5.20 percent, and roughly in line with the US. By contrast, South Africa was the costliest corridor at 15.23 percent, up from 10.8 percent in the fourth quarter of 2024, while Brazil averaged 9.96 percent.

While expatriates account for most outward transfers, Saudi nationals’ personal transfers are also rising. These typically cover overseas education, healthcare, holidays, family support, and property or investment outlays — categories that expand alongside higher travel and global integration. 

Regulatory frameworks overseen by SAMA and national payment systems such as SARIE and Mada provide the rails that keep transactions moving securely and at scale.  

With unemployment low, e-payments rising, and new digital corridors opening, remittances are likely to remain elevated through the second half of 2025, even as monthly volumes fluctuate with travel and currency moves.