Annual value of outgoing and incoming remittance flow in KSA 2021, by country

Remittance outflow from the Kingdom of Saudi Arabia were nearly 160 times larger than the value of incoming remittances, with most the KSA's outflow going to India in 2021. This is according to a ranking that attempts to map out the flow of such money transfers. Remittances refer to cross-border payments to family or friends and are often associated with migrant workers sending money back home to friends or relatives back in their communities of origin. It is estimated that about one in seven people worldwide are involved with remittances - substantially impacting payment behavior in, especially, Asia and Latin America. For Saudi Arabia, the top five recipient countries for remittances in 2021 were largely found in Asia as it included India, Egypt, Pakistan, Bangladesh, and the Philippines. Saudi Arabia's main sources for remittances were the United States, Turkey, Libya, and the United Kingdom.