Foreign Workers’ Remittances from Saudi Arabia Rise 21% in July, Hit $3.44 Billion

• Remittances by foreign workers in the Kingdom reached SR12.91 billion ($3.44 billion) in July 2024
• The trend reflects the Kingdom’s ongoing reliance on foreign labour, despite efforts towards ‘Saudization’

Recent figures released by the Saudi Arabian Monetary Authority (SAMA) reveal that remittances by foreign workers in Saudi Arabia hit SR12.91 billion ($3.44 billion) in July, marking a 21 percent rise compared to the same period last year. This underscores the Kingdom’s continuing dependence on foreign labour to drive key sectors of its economy.