George Naufal, Associate Professor of Economics at the American
University of Sharjah and research fellow at the Institute for the Study
of Labor (IZA), and Ismail H. Genc, Professor of Economics and Head of
the Economics Department at the American University of Sharjah.
The GCC countries have positioned themselves as the highest remitters in
the world, collectively beating the United States, the traditional top
remitter. The aggregate official remittance outflows from the Gulf
region crossed the $75 billion mark in 2012 which is 50 per cent larger
than the amount remitted from the United States for the same year.
Remittance literature is large but mainly focused on remittance inflows.
This paper summarizes the existing literature on remittance outflows.
We use the literature findings to discuss the story of remittance
outflows from the GCC countries. Remittance outflows in the region have
been linked to local labor policies which determine the source of
foreign labor. We explore the potential role of remittance outflows in
the local economies and the receiving home countries.
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