We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Thu 26 Mar 2015 11:25 AM

Font Size

- Aa +

Revealed: Low-income workers send 80% of wages home

Average amount sent home is $326

Revealed: Low-income workers send 80% of wages home

Low-income workers are sending as much as 80 percent of their income home, according to the latest statistics from money exchanges.

The cash sent home by those earning lower wages in the UAE accounts for three-quarters of all remittances from the country.

“Low-ticket remittances (below $400) by blue collar workers, the unsung heroes, account for over 75 percent of the total number of transactions,” Sudhesh Giriyan, COO, Xpress Money, told Gulf News.

“On an average, they send 80 percent of what they earn back home. Blue collar workers send money to their dependents every month unlike white collar workers who wait for a good exchange rate. Although white collar workers clock in fewer transactions, the value is higher as the average size of their remittances is three to four times greater.”

The average amount of money sent home each month is just over $320.

“The average monthly remittance by low income workers is AED1,200 ($326). Some of them who work in the F&B sector or are eligible for incentives and commissions tend to make more than one transfer during the month,” Sultan Al Mahmoud, chief marketing and support services officer at Wall Street Exchange, told Gulf News.

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.